Trade closed with 1 pip. See how I manage it with chart below. This may not be the end of this trade yet. I would try to follow through the price development and see if I can put in a trade to catch any move.
Here comes the update. After closing out. Below is the new trade setup that I would look out for in M5 AUDUSD chart.
The rejections happened and this is the update M5 chart of AUDUSD.
This would be how it looks like in H1. The last hour was a pin bar. And you should see the bullish Gartley and hopefully it can follow the channel and hit my TP.
Let's hope that this would work out.
Result: Loss -25pips (Closed manually)
Price hovered at -30 plus pips for quite some time and I took the opportunity to review and realized that I am trading an inside bar that looked bearish when its near to end of the H4 candle. At some point, it did look good when it was hovering around 0.9150.
A better way to see my mistake.
1 comments:
Great analysis there, Eric. It was a valuable lesson gained at a low cost. This focus on lower timeframe and missing the bigger picture is something that has plaqued me too and I am also learning from this.
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