Jumped into a Long on this pair as soon as the market opened yesterday to trade the Inside Day Failure. I saw a couple of patterns show up in other pairs but of all of them, I thought this was the optimal setup and the only one worth trading.
Note we have just printed a Bullish Engulfing on the flipped hourly level. Not seeing much else I'd like to trade in the markets this morning. My UJ short is still running as alongside this one, those are my only open trades atm.
Note we have just printed a Bullish Engulfing on the flipped hourly level. Not seeing much else I'd like to trade in the markets this morning. My UJ short is still running as alongside this one, those are my only open trades atm.
Comment:
I've gone and moved my stop to the low of the engulfing candle and added that risk back into the trade.
Comment:
Might be a bit of an aggressive move but I need more experience adding to trades before I can tell. I think the Engulfing printing on the flipped level and the strength in the developing candle so far are decent indications that price is done with this level. Hopefully I don't get in my own way on this idea.
Comment:
Closed the addition for a small loss and reverted back to original stop placement. Didn't think the engulfing range was strong enough to convince me to keep it.
Comment:
Scratched on this trade. Was influenced by another trader who I follow on discord. I don't really use the app, but notifications pop up when they post. I entered this trade yesterday, they entered long this morning. I started seeing some wicks and he decided to cut out at about the same time. I followed like a dunce. Deleted the app to not allow outside influence on my trading.