The set-up had already happened by the time I came back to the computer, so I did not have the chance to mark up and anticipate this trade. I hung on for a deeper retracement to at least the D1 EQZ level, which never came.
Impulsive bull move, retracement to GZ with 1min ema, and 5min ema not far below. Price looked to be coming up off a low, broken up through a previous short-term resistance.
In comparison to the last two trades, I feel like this one had a good set-up which warranted a trade.
Monday Morning Mistakes #2
I’m embarrassed to post this, so soon after the last one.
Counter trend, not a great deal of supporting confluence, and exactly the same premise as my last trade which failed. A tight Stop Loss gave no room for the movement of price.
Monday Morning Mistakes – Wake up Joel!
Weak SUPCON, below Lo-Hi GZ, did not get a good feeling before the trade, I should have taken my own advice which is to lay off the trades until I feel in tune with the market movement!
Hi Joel,
I’m not trading today as I’m debugging the Limit order updates…
A day for sell trades only so far….