DATE: Tue, 26 – 02 – 2019
TRADE: Sell (not taken, not all criteria were met)
TYPE: Breakout
CHART:
COMMENTARY:
Feeling:
Feeing saved by the Rulebook. Bearish Breakout happened on Candle 09:00. But the Breakout Candle and its two proceeding Candles showed an escalating pattern. They indicated potentially exhaustive push was coming; not a favourable setup to trade with. The Rulebook already stated to stay away from it; so, I didn’t take the Trade. After that exhaustive-breakout push got realized, it pulled back and gradually move against the Trade’s direction until end of day, as anticipated.
Results:
After OP, Price never went beyond 0.5 rrr level. It went to almost touching SL on Candle 12:00 (spread considered). Before finally did so on Candle 15:00.
Learning:
1. This day’s price action reaffirmed the Rulebook’s warning.
2. Looking at recent days’ price actions till this day, longer-term tendency is Price will go up again. We’ll see.