Yet another shooting star on w1.
1)On daily, price shows a wr4b this time, resistance clearly defined from 2013 high.
friday bearish day also signified a 3 day bull trap, creating a wr4b as well.
2) looking at latest 2 month low, that will be my profit taking zone. At the same time I will be looking for an oppoturnity to go long.
My trade plan will be as such on Monday
A trade checklist
Dj30 fits the criteria for a potential A trade. What will be lacking will be a smaller 1234 to minimize pip risk.
Trade outcome was – 70 early exit after wr4b failure , -80 , -90
Indeed most criteria were met and suggested trade was good. However shit happens. For this reflection, I choose to focus on ” had I done my best in terms of trade management and exit.”
1) one of the position could have been Tp at last week low, but greed overcame the plan and eventually all TP were put at 2 months lows.
2) could i have done better to sleep later and monitoring this position, and place BE after trade has moved?