( -40 x 2 big) week25 EURSGD a nice setup but overeagerness entered big position at wrong level

h4

It was a perfect setup.

week25 EURSGD 1234 h4t 170614

h1

H1 suggested this was good as well.

week25 EURSGD h1 leontey 190614

My mistake

What was disappointing was hitting too large a position before setup had been confirmed!
I had entered out of eagerness and it was before price had cleared the level, which i did not have as i traded from a fresh chart.

Lesson learnt: There is always time to enter the trade. 1-5 minutes does not matter as market always give a second, or third time to reenter at the price that I want.

Never, never, never chase the price. The market is always there, the spike is always there.

week25 EURSGD h1 my mistake 220614

Edited 251214

My realization is that d1LC and MY Levels helps a lot to spot the turning points. Michelle testing is extremely crucial to make entries a success.

By entering short for this EURSGD, it also meant that ” I am trying to catch the reversal of the 6-10 days move. Which puts probability not on my side. “A more reliable trade will be when h1 box had turned to my intended direction, then I go ahead to short it

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