this is the type of D grade trade that I do not wish to entertain in the future.
I held this trade for 6 days and was holding on to losses, not gains. This is not a good way to hold trades.
In this trade,
what was correct:
I believe my bias was correct to assume short, which is with the trend
What was WRONG :
1.I shorted into weekly tx blue box. My previous experiences tells me weekly BB is worth some rebound at least.
2.I shorted and placed sell limit which did not work out
3. I could not define properly the point of invalidity. Hence I did not place a hard SL, which made manual cutting all the more difficult.
4. I held edgeless positions into rba cash rate. Historically my win rate for rba cash rate was not high.
Let this be a lesson learnt.
hard luck that i shorted into a giant reversal