End of Day Review
-1.08R
3 trades taken. 1 break even, 2 losers, 0 winners.
As price moved down from a high, I saw the potential for a 5min or 15min MAB, and anticipated price moving down to those levels with a micro-1min MAB.
This didn’t quite work out, but I covered my risk by moving my stop loss to break even when price was near the 5min ema.
I had seen this setting up on the M15 timeframe, and liked the look of it. I entered the trade on the back of the idea that price would test the H1 and D1 EQZ midlines, as in my last trade.
This was a mistake, as I moved my profit target looking for a strong downward move. Had I left it alone, I might well have come out of this trade with the 2R target that is in my plan!
I thought we might have seen the price test H1 and D1 EQZ midlines again before moving up, and was looking for a quick in and out trade.
There was some role-reversal structure, and the 1min ema in play, however you could consider point B of the setup as the second shoulder of an inverse head and shoulders, and this should have been enough to put me off taking the trade.