I think maybe I should walk away now, because I’m starting to do stupid things.
Que sera sera.
I will have to find something better to sacrifice next time around.
The reason this trade failed was a bad entry. If I had been a bit more patient, I could have almost halved the size of my stop and brought in+2R well below the 11300 level.
I’m happy with my read, markup and patience for price to reach the SUPCON, but I just needed that little bit extra before I pulled the trigger.
Things aren’t looking good at the moment, but I was expecting another test of the SUPCON.
At the moment I am sitting on my hands, giving the trade time and space to play out, and praying to the DAX gods, but I’m not feeling good about this one.
A decent set-up, but I failed to give respect to the 5min ema, at a point of known recent resistance.
And it moved up afterwards!
I find it riskier to take a trade above or on the 50 level of the Fib Tool. However, I see role reversal that you thought was in play!
And the 15M GZ Sell FIBCON gave us two opportunities to profit from it. I didn’t enter the second either 🙁
I usually wouldn’t place a trade unless price is in the GZ and close to the 61.8 Fib level, but I thought there would be support at the top of the 5min EQZ, and was sure that price would have another go at hitting the 15min ema.
I’d moved my stop just below the level of the previous Higher High, so would have got around +1.5R if I hadn’t been stopped out by a pip first!
Good buy@SUPCON but tricky to get the 2R….