Break and Retest of H4 support/resistance @1.79400
H4 broke below a major support that was difficult to break most of yesterday.
The day closed bearish issuing another bearish daily candle but first price was creating a liquidity wick for the day before pushing down.
My idea:
I waited for support to break.
As price pushed up into the level I took a sell with my Sl a few pips above 1.79500 zone and my tp was @1.79000 for a 1:2.
Problem was, as price descended down, I panicked because I thought I might get wicked out of my trade like the past few days so I closed early for 29 pips and an 8.4% gain on this trade.
The day closed bearish issuing another bearish daily candle but first price was creating a liquidity wick for the day before pushing down.
My idea:
I waited for support to break.
As price pushed up into the level I took a sell with my Sl a few pips above 1.79500 zone and my tp was @1.79000 for a 1:2.
Problem was, as price descended down, I panicked because I thought I might get wicked out of my trade like the past few days so I closed early for 29 pips and an 8.4% gain on this trade.
Trade closed manually