After the last sharp downside move consolidating sideways move is expected. The pivot point is going to be 23025 where strong selling will continue.
Trade closed: target reached:
Even though the target has been reached, I did not participate in the move. I entered at 23500 and exited at 22300. I wanted to secure my profit and re-enter on a pullback at 23000. This level was never reached. So I took 1R instead of 3R because I was afraid of losing profits.
It feels bad to be right about the move, but waste an opportunity because of fear.
The lesson I should learn is that I must follow a plan despite fear. Yes, I could lose that 1R in a short run, but in a long run I would make 3R on average.
It feels bad to be right about the move, but waste an opportunity because of fear.
The lesson I should learn is that I must follow a plan despite fear. Yes, I could lose that 1R in a short run, but in a long run I would make 3R on average.