Time: 6PM
Reasons for entry:
- Downtrend
- Well under 200 EMA
- Nicely rejecting 50 EMA
- B&R of support turned resistance
- 61.8 lining up perfect with res
- multiple failures to close above res
- Bearish engulfing as entry when momentum broke 30m lows
Lessons Learned: Euro was VERY strong, I should have spotted the 1H double bottom marked out in the blue. So be more aware of mid trade patterns. This trade should have been a breakeven trade by manually closing out when the 1h bullish candle failed to close below support and invalidate the double bottom
Reasons for entry:
- Downtrend
- Well under 200 EMA
- Nicely rejecting 50 EMA
- B&R of support turned resistance
- 61.8 lining up perfect with res
- multiple failures to close above res
- Bearish engulfing as entry when momentum broke 30m lows
Lessons Learned: Euro was VERY strong, I should have spotted the 1H double bottom marked out in the blue. So be more aware of mid trade patterns. This trade should have been a breakeven trade by manually closing out when the 1h bullish candle failed to close below support and invalidate the double bottom