Bad trade or no luck?
Bought a little bit higher than wanted as price was moving fast. That made me have my profit targets higher than expected. Why is that relevant? I normally move my stop loss to breakeven after price reaches 1R of profit, but in this case it missed that level for a little bit and I decided not to lock profit in.
Price went down quickly, took me off the trade, went back up, almost made my 2R level and retraced once again.
Good morning Alex!
I was looking to make a trade in that bit of movement too. The reason I held back from buying was that price was at the top of the Daily Channel, and at the top of a GZ on the H4. ( https://blackboxsoftwaresolutions.com/wp-content/uploads/2018/10/dax30sb_H4_22oct2018_0900_xxxxxxxx_xxx.gif )
I will be looking for price to move back down into the Daily Channel, and will be more focussed on sell trades, unless the price action tells me otherwise and moves more strongly the other way.
Such fine margins……..