So here I went into a long position based on the following factors:
- Clear uptrend on lower and higher TF’s. (30M, 1H, 4H, 1D)
- Crossover on the MACD.
- Bullish candles preceding the entry.
- Good momentum against my yellow trendline.
- Breakout from a small resistance zone.
I have attached a screenshot of the cart I used and drawn a yellow arrow depicting where I entered the trade. As you can see, price is falling against what I thought was a decent entry based on albeit the limited anaysis. I’m looking for advice on why this was not a good trade and other form of analysis I could take away from this. Ie., is my trendline accurate, is my analysis mentioned above accurate etc?