Remember the pattern where the bottom of the range is broken, prices comes back up, re-tests the previous support level and goes up? It was exactly that, and I was on that trade.
My entry level was good, my stop loss was good, but somehow I didn’t trust my instinct as I should have.. When I locked profit to breakeven, I knew I was risking an M1 MAB before it finally goes up. I was with the mouse on the close trade button to take almost 1R profit and then re enter at the MAB, and didn’t do it. In ten seconds, it went down, touched the M1 Moving Average, found support and went up to the M5 Movign Average.
My fear of losing 1R in a rangy day where I don’t know if there will be enough oppotunities was bigger than the trust on my trade. That’s enough reason to be +0.06R rather than 2R up.
Hi Alex,
Great buy trade!!
I was not at my desk when price tested the SUPCON@11390, it was the structurally the best setup so far and looked great on the M15 and H1 charts.
Your entry was perfect, the 2R was perfect just below the PW Low, ideal buy off the bottom of the range. Shame you didn’t get the 2R but great anticipation!!