Time of entry: 4pm
Reasons for entry:
- Uptrend
- Big impulsive move to the upside showing alot of buying momentum
- Break and retest of structural highs
- 1H hammer with long lower wick
- Entry was the break of the 30m highs
Lessons learned: I previously got in a buy whilst that bearish hammer was forming and was wicked out -2% so i thing this was a revenge trade and also FOMO too. The real move i should have been in was that impulsive leg to the upside.
I closed out at BE because I didnt think the risk was worth the stress i would have been under when being in this trade. I already thought the markets were overextended and needed a decent pullback so I did well by closing out at BE because i stopped stress from happening and i stopped potentially losing 4% on 1 pair in a very short amount of time.
Reasons for entry:
- Uptrend
- Big impulsive move to the upside showing alot of buying momentum
- Break and retest of structural highs
- 1H hammer with long lower wick
- Entry was the break of the 30m highs
Lessons learned: I previously got in a buy whilst that bearish hammer was forming and was wicked out -2% so i thing this was a revenge trade and also FOMO too. The real move i should have been in was that impulsive leg to the upside.
I closed out at BE because I didnt think the risk was worth the stress i would have been under when being in this trade. I already thought the markets were overextended and needed a decent pullback so I did well by closing out at BE because i stopped stress from happening and i stopped potentially losing 4% on 1 pair in a very short amount of time.