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meister_keith
Jul 11, 2019 8:07 AM

Trial 2: Looking for Price to Push down to 1.780000 Short

British Pound/Australian DollarFXCM

Description

I got in on sells again once H1 closed below 1.79740 confirming that price isn't ready to break to the top side yet.
With this conclusion, sells seemed more valid to me.
Description is on the Related idea

Trade closed: stop reached

Comment

Based on H4,
If i lined up my trend line on the H4 wicks i would have seen a potential bullish momentum still in the market. This would have invalidated my trade which means i would have had to wait for a breakout from 1.79540 which has been a super strong level to hold the bearish momentum at bay for 19 hours. In short, this loss was because i was unwilling to see more than what i thought would happen.
Comments
Dave-FX-Hunter
Good setup unfortunatelly stop loss was too tight.
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