Another loss, but this is another trade I think I’d take again. I passed on the earlier 1min MAB and waited to price to retrace to the 5min ema, confluent with a keyzone and the Hourly Bear Channel midline.
I was anticipating a move back up towards the H1 EQZ border at 11644, with the 4hour ema and Daily Bull Channel in confluence.
Ideally, I should have placed my stop below the top of the M5 EQZ border, and not left it hanging in white space. At the time, my thinking was that this was a very wide stop gap, and it would reduce my profits with a profit target at the High.
It’s nice to see a bit of green in the Trade Controller!
A good set up after an impulsive bullish move to create a new high. Price retraced to a keyzone drawn from late Friday/ early this morning’s price action, which was confluent with the 61.8 GZ level.
I had my TP level just below the Hourly Bull Channel + 5min EQZ, but took profits manually just below the Open.
Finally a trade I can look back on and say that I would take it again!
An area of good RESCON, with the Hourly Bear Channel, Hourly EQZ and the 61.8 level of the Hi-Lo GZ.
I want to use the excuse that these couple of trades were just practise shots to find my aim, after some time away from the charts. In reality, they were bad trades, minnows, would not take again.
I should have been patient and planned out the move up towards the 1hour ema.
Price eventually made it’s way through where my TP was placed, just inside the bottom of the 5min EQZ, but not before pushing up to the Daily Bull Mid first, taking me out of the trade.
Hi Joel,
Yesterday I also thought, “Nice to see a bit of green on the Trade Controller” 🙂
Your comment, at last a trade that you felt you’d take again is SO key!!!
After a string of losers where that was missing I was able to say that yesterday – Tuesday – even though I trailed my stop to close and was stopped out before it went on for a 2R+ winner.
Some addictions are good, let’s all get addicted to that feeling of “Win or lose, I’d take that trade again.”
It does feel SO good…..