Price didn't respect the higher time frame analysis. And stopped me out @1.51000. 29pips
Going to sit on the sidelines for the time being.
Refer to my Daily analysis & compare it with the weekly & monthly. Links provided below.
There were more indications of a short than a long.
-Lagging span pointing downwards on D,W,M time frames.
-Price broke through 26 & 9 day MAs on D,W,M time frames.
-Price broke through bottom of cloud on D.
All chimoku indicators on the Daily were strongly towards a short. Thus why i set a tight stoploss.
I wanted to see if price still would respect the overall trend based on the higher time frames. I was wrong.
Perhaps I could've set a bigger stop loss, regardless I still have a open long postion on GJ up 200 pips.
So I was willing to take the chance, with a lower lot position & a tighter stoploss than normal.
There is always risk involved in trading. Notes taken on to the next!
Going to sit on the sidelines for the time being.
Refer to my Daily analysis & compare it with the weekly & monthly. Links provided below.
There were more indications of a short than a long.
-Lagging span pointing downwards on D,W,M time frames.
-Price broke through 26 & 9 day MAs on D,W,M time frames.
-Price broke through bottom of cloud on D.
All chimoku indicators on the Daily were strongly towards a short. Thus why i set a tight stoploss.
I wanted to see if price still would respect the overall trend based on the higher time frames. I was wrong.
Perhaps I could've set a bigger stop loss, regardless I still have a open long postion on GJ up 200 pips.
So I was willing to take the chance, with a lower lot position & a tighter stoploss than normal.
There is always risk involved in trading. Notes taken on to the next!
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