Failed Short EURAUD 4hr break and Retest

EURAUD

4 Hour

I entered short based on a 4 Hour breakout and the a retest on the following candle.

My entry was a little pre-mature so I entered with only a .05 lot size. Price pushed up and the new four candle closed just below the breakout line, so that still you have been a valid retest entry.

Unfortunately price pushed pushed straight through the breakout area and ultimately hit my stop-loss.

.05 lot size stopped for a $19.85 loss (-40.5 pips)

Would love to hear your thoughts about why this trade failed. Leeave your comments below.

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Comment:

So I'm learning to try and analyse my losing to see where I might have got it wrong and help me learn for the future.

After closing the trade. I looked to the left and noticed a strong area of congestion.

I also noticed that once price filled the wicks within that congestion area it revised and went back up.

Comment:

1 DAY LATER