On M30 we can see rising channel which formed false beakout from D1/4H channel. But this channel has been also broken out of with higher volumes so this is a good short position to take on EURUSD.
For more confirmation we can still wait for the descending channel trendline to be broken back into with high volume but this is good enough signal for me so finally taking short for EURUSD and these analysis:
- A
- B
Enter short at: 1.10254
TP at: 1.085
SL at: 1.1120
For more confirmation we can still wait for the descending channel trendline to be broken back into with high volume but this is good enough signal for me so finally taking short for EURUSD and these analysis:
- A
- B
Enter short at: 1.10254
TP at: 1.085
SL at: 1.1120
Trade closed: stop reached:
With this trade decision to go short was too premature and I should have waited for the volume increased break down through the trend line which would be a clear sign of the down trend continuation. Now we ended up in SL hunt.
Lesson learned: Don't be too eager with your trade decesions and wait for solid confirmation of your idea
Lesson learned: Don't be too eager with your trade decesions and wait for solid confirmation of your idea