The chart outlines S/R levels I see. I have the trade entries, TP and stops as shown by the SHORT entry boxes. OPTION 1 achievable OPTION 2 doable OPTION 3 Major shift in sentiment has occurred.
Trade closed: stop reached
⋅
50 EMA looks like it will now act as dynamic support. I don't like trading through EMA's. So we maybe seeing the sentiment shift on the lower timeframes and this will translate to possible LONG entries on the daily.
Comment
⋅
SO THE REALISTIC LEVEL FOR TAKE PROFIT WOULD HAVE WORKED OUT IF I PLACED MY STOP ABOVE THE OBVIOUS SWING HIGH 113.500 ( ROUND NUMBER ). SO OVER ALL THE TRADE DIDN'T WORK OUT, EVERYONE CAN SEE THIS.
THE DIRECTION OF THE TRADE WAS CORRECT AND I WAS CLOSE TO GETTING THE SET UP CORRECT, SO I TAKE SOME POSITIVE AWAY FROM THIS ONE AS WELL AS THE LESSON OF PRACTICING WHERE MY LEVELS ARE PLACED:-
LOOKING AT WHAT THE CHARTS TELLING ME AND NOT LOOKING FOR A LEVEL THATS NOT THERE.