Another silly decision. I probably should have stopped trading after my last trade, showing I wasn’t in touch with the movement of the market.
Time to stop for a bit and get my mind in the right place!
This one hurt a lot, with a massive price spike leading to me losing more than twice my initial risk.
I think I deserved this though, and it’ll teach me for next time.
The set up was good, but looking at the higher timeframe context, this was a bad trade, and I knew it! I had the chance to exit the trade, but held onto it with HOPE that it might come good. I have mentioned before that as soon as I start hoping, I know it’s going to go wrong!
The higher timeframe showed price making the bearish move to fulfill a 61.8 Fib retracement, shown in the screenshot below, and it was obvious that price would then begin to move upwards again.
I knew this at a time, but did not react to what the price action was telling me. Stupid!
