I took this short because I was stalking EUR/USD and waiting for a pullback with a favorable 15m close, my setup. But there was no clear 15m low to go retest. Only a wick to fill on 15m in bearish HTF momentum. I Placed this trade about 30m after the first trade. I forced this setup, trying to do too much. In trading, in my humble opinion less is actually more....
Price is rejecting weekly resistance on daily. 6/10 prior days on the daily are bearish. If this is the case then why would professionals buy this pair when it is at 1hr/4hr Resistance? Only retail traders are buying at resistance as they are treating Trading like gambling. No plan, just winging it. I was happy to sell to them this morning. One of my cleanest...
Price is bearish over the last 10 days so I was looking to short EUR/CHF. The first trade was not a bad trade but I could've been more patient and entered risk where I originally planned to enter risk, on a break of 15m lows, around the 1.06400 area. The second trade was a better trade since I waited to enter risk when price reached this 1.06400 price level at 15m lows.
I Forced this setup. I missed the initial entry that my intuition was telling me to take. I chased it and didn't allow it to come to me. The idea on this trade was to retest the new 15m low and continue to break further. What I missed was that the original new Low that was created during London open was the Low I really should've been looking to capitalize on.
A low was created on the day after consolidating during London and Asian sessions. Price pulled up for liquidity to 1hr zone, showed bearish rejection on 15m TF, entered once price broke below the 9am (EST) 30m Bullish candle low. 1:1 RR
LL's and LH's created, rejection at Resistance area. Entered as price broke 15m Bull candle low