End of Day Review
-2.94%
5 trades taken.
1 winner, 4 losers, 0 break even.
All of todays trades were based in emotion; frustration and impatience.
A morning of good market read but no trades, I was left frustrated with the chances I had marked up but missed. I took a break over lunch, and should have stepped away then and there. Instead, I came back for the afternoon session intent to get into some kind of trade, any trade, and began looking for things that weren’t there. The first bad trade losing led me to want to get into another one to make the money back and so started the spiral!
This was a trade taken out of impatience and frustration that I had passed on or missed so many opportunities today.
I’m not sure which direction the market is going to push with these MABs, so I sat out of both of them.
I just passed on a potential REVFIB Buy trade, due to low probability.
A 5-Wick Reversal pattern was present on the M5 timeframe, and the top of the Hi-Lo GZ looked like a good target for price to retrace to (based on a higher timeframe H1 ABC), as it had acted as Support back on the 4 June. However, no Higher-High was present and there was resistance at the 12226 KS level shown by the wicky candles.
Price moved down and interacted with the Fib GZ, however couldn’t break through the 12226 KS level and price has since fallen through where I might have placed my Stop Loss.
Price might still find Support between the H4 midline 12182 and KS 12176 levels, and the D1 midline 12135 and KS 12134, as this zone is curently holding price well, however I’ll probably wait for a more significant break of the KS 12226 level before thinking about entering a Buy trade.