AUDUSD H2 Short following a failed rally to original H4 Supply
Short term income trade on the H2 time frame for a short when prices failed to rally to the H4 supply we hoped to get short at
Đóng lệnh: dừng lỗ:
Following prices entering and triggering the H2 supply short order, prices reversed up instead of filling the unfilled orders and dipping. As such, my stop loss was triggered and a loss was registered.
On hindsight, the lead up to the entry price was in a step wise motion. This could potentially lead to pockets on demand on lower time frames which would have resulted in high resistance for a move down.
Furthermore, a chance was given to me when a OHLC bar appeared above the momentum trend line which signaled the end of the downside momentum. This would have allowed me to get out with a half R loss instead of the full R. However, despite seeing this OHLC bar, I held on and hoped that prices would fall instead of triggering my stop loss. Interesting experience as I was mindful of how I felt throughout the trade, especially right after the closing of the OHLC bar above the momentum line.
Lesson learnt: if the market isn't going where you want it to go and allows you to get out for a small loss, GTFO.
On hindsight, the lead up to the entry price was in a step wise motion. This could potentially lead to pockets on demand on lower time frames which would have resulted in high resistance for a move down.
Furthermore, a chance was given to me when a OHLC bar appeared above the momentum trend line which signaled the end of the downside momentum. This would have allowed me to get out with a half R loss instead of the full R. However, despite seeing this OHLC bar, I held on and hoped that prices would fall instead of triggering my stop loss. Interesting experience as I was mindful of how I felt throughout the trade, especially right after the closing of the OHLC bar above the momentum line.
Lesson learnt: if the market isn't going where you want it to go and allows you to get out for a small loss, GTFO.