If anyone is looking for an easy target, both EA and EG have been down trending nicely for quite a while…
You may have noticed that I have two open trades on EG…breaking a rule not to increase risk on a trade that is currently losing (1st trade, was not the best entry), but notice the pin on this H4 chart and the strong downtrend…there is also correlation on other pairs (EA already dropped, and EU looks poised to drop as well)…so hopefully I do not have a big loser on my hands 
and this is why we should follow our own rules 
egg in my face and stopped out on EG…70 pips lost!
After licking my wounds I decided to analyze this last trade to see what I did wrong. Well, one thing I already know…added to a losing trade. In my mind I justified it by believing that I had a great set-up, but that I had gotten into it at a bad spot (reqiuring sitting through some draw-down and having a larger than desired stoploss)…
2: I was so quick to see this as a retrace of this downtrend (showing that reversal candle on the H4), that I didn’t pay much attention to yesterday’s strong bull candle…maybe the retrace isn’t close to being done, or maybe it isn’t a retrace at all? maybe this setup isn’t so great…
I need to learn when to reverse my position, and accept that it is not doing what I think it should do - and just try to observe only what it IS doing.And there’s probably more…what are your thoughts? Anyone?
Hello Ramah! It’s good to see a fellow PA trader :).
I don’t even watch EUR/GBP personally, but I have three reasons why I think you might have lost the trade just from glancing at your charts
[B]1.[/B] If you’re following nikitas method (or even if not) yesterdays strong bullish candle was a strong sign of more buying and trying to sell on a retrace isn’t usually a good probabilities trade (at least in my limited experience).
[B]2.[/B] On the 4h chart you bought after two higher highs and higher lows had already formed which also confirms you should have been looking for a buy and not a sell.
[B]3.[/B] You can’t win them all!!
teb5108,
thank you for your response and pointing out the HH and HL’s. I will keep that in mind next time 
everyday, learn a little more.
Vickie
