I have been posting sell idea's for Nzd/Cad and they all were .... "Still in the Resistance Zone" and the analysis still could be correct but I actually entered a sell too early and had to close in loss.
I had been entering a sell at resistance and getting lucky because they had been falling for the most part , but this time I got burned.
Lots of lessons to be learned here!
1. I should have at least waited for a daily candlestick reversal pattern before entering the sell!
2. News pushed this pair up against me and I still held in loss " ON SUPPLY AND DEMAND PRINCIPLE's ONLY" and I got Burned!
3. Price hanged out at this area all week moving down and up, more up and then down ... then up more....
So im waiting to enter this trade again. I will not enter until I see a candlestick reversal pattern on the Daily Time Frame.
I will never enter a buy at support or a sell at resistance ever again until I see a reversal pattern on the candlesticks!!!!!!!!!!!
Also , price could stay in overbought or oversold on the rsi for a whole week before price finally decides to move.... Must be patient and watch out for this!!!!
I can't believe I made this mistake after 2 years of trading but I learned my lesson!!!!!
I had been entering a sell at resistance and getting lucky because they had been falling for the most part , but this time I got burned.
Lots of lessons to be learned here!
1. I should have at least waited for a daily candlestick reversal pattern before entering the sell!
2. News pushed this pair up against me and I still held in loss " ON SUPPLY AND DEMAND PRINCIPLE's ONLY" and I got Burned!
3. Price hanged out at this area all week moving down and up, more up and then down ... then up more....
So im waiting to enter this trade again. I will not enter until I see a candlestick reversal pattern on the Daily Time Frame.
I will never enter a buy at support or a sell at resistance ever again until I see a reversal pattern on the candlesticks!!!!!!!!!!!
Also , price could stay in overbought or oversold on the rsi for a whole week before price finally decides to move.... Must be patient and watch out for this!!!!
I can't believe I made this mistake after 2 years of trading but I learned my lesson!!!!!
