I felt good about the strength of the bullish move, and bought again on the second leg.
I did not want to take any chances and so took profits well within the retracement’s Inner-Fib, and below Yes. Close.
Whoosh!
Could have been looking at a 5R+ trade here if I had let Key Structure dictate where I put my targets, and exited neat the H1 EQZ boundary.
Such a shame I got stopped out by such small margins!
I ALMOST got everything right here. A very good impulsive move to start the set-up, creating a Higher High. Next, retracement to the GZ and D1 Bull Channel, M5 EQZ boundary and a Role Reversal level.
The trade only just got stopped out, before moving strongly back up towards where my profit target would have been sitting!
I thought I had given enough space below the D1 Bull Channel for movement of price, but with the 1hour and 4hour ema sitting below the Channel boundary, it needed a bit more!
I got the direction of this trade correct, however the Stop Loss was not in the right place.
Still a trade I should not have taken.
No clear impulsive move in the set-up, no Lower Low and a ranging price beforehand meant the trade could not have been with trend.
This was a trade I should not have considered taking in the first place.