King W. Harbmayg's Journal Entry #3
Review:
We are operating at the high of day from Friday which was the first up day after three consecutive down days. I want to sell this for approximately 50 pips since an evening star printed at the high of day. I want NA session to provide evidence for the short by meeting my sell criteria.
Review:
We are operating at the high of day from Friday which was the first up day after three consecutive down days. I want to sell this for approximately 50 pips since an evening star printed at the high of day. I want NA session to provide evidence for the short by meeting my sell criteria.
Trade closed: stop reached:
I see that it is wiser to utilize higher timeframes (15M) over lower timeframes (1M), in my case, when establishing Fibonacci retracements when seeking to position myself. I was awaiting the three push pattern to the upside and then the break down, and got it at the pullback; however, I used lower timeframe which price was not seeking to respect. I do believe this short opportunity is legitimate, it is a matter of position myself better if I do reattempt to short. Also, I wish to use slightly larger stop losses as this was fairly tight.