I was feeling confident with this one, and now that I’ve closed it, I wish I’d let it play out for a bit longer. However, I’m happy with the set-up, entry, and management of the live trade with a small profit.
I was already wary of the bounce off the 5min ema, and some resistance near the 11300 level, and closed the trade after a Gap up, and a full Bull candle, which may be a sign of price starting to rise again.
I will now be on the lookout for that 1hour MAB that I mentioned earlier.
I feel much better about the set-up of this trade than my previous one at the 5min ema.
It’s obvious now that this was the better trade, and I should have noticed and marked this up before entering into the 5min MAB.
I hope I am not saying exactly the same thing in an hour, when price moves up further for a 1hour MAB instead….
Here’s that bad trade that was just waiting to happen.
I’d spotted a couple of set-ups earlier on but didn’t enter the trade. Eventually I got frustrated with letting things go, and entered a poor trade.
Are you being the bear today?
I’m being the bear that is seeing a few salmon swim past, but is too afraid of getting his paws wet, and is getting so hungry that soon he’s going to take a swipe at a shadow!
There we go!
I predicted I was going to do it, and did it anyway. I probably deserved to lose that one!
Lol! I loved that of take a swipe at a shadow!
Yeah it wasn’t a great entry, probably because it was coming off an area of strong support. But what can I say if I caught a salmon, thought it was going for my jugular and scared like a baby!?
We are just humans, this has to happen for us to learn!
It does, but I have learned this in the past.
It seems a common occurence for me to take a trade back into the SUPCON/RESCON that it has just bounced off. It was also something that I had noted before entering the trade, and still went through with it.