Another trade taken about the same time that didn't pan out so well.
After glancing at a few charts I thought the previous traders had been zeroed out and the 2hr overlay was going to close as a bullish engulfing pattern of the previous candle..... I was up 8 pips quick so it would have been a good scalp. I went back to work and when I got off g/u had tanked. Broke support, even though it was on the last 15m candle of the H2 and way up high it reversed.....
Gotta WAIT for the TRUTH of the CLOSED body!!!!!!
The other thing I didn't take time to look at was the fact that price "corrected" but had not returned to the previous extreme......See the recent highs?? And the new lower lower of the 15M waves???
We were going down as it had not yet finished zeroing the HIGHER time frame.
I assessed that even though it had dropped so far from a support level that it would come back to test it and zero out the traders holding sell profit.
I figured I'd let it run over the weekend and get out a B/E as I had to go to bed.
Well, before friday's close it touched my entry price by +3 pips while sleeping.......Doh.
Missed that one.
Not sure what it's going to do now..........
Don't mind the -364 trade....I"ve got 3 of those running on e/j that I use as my:
Amplifies price movement X3 to let me know which way things are going at a glance. The three together were -2400 pips a couple days ago.
If you can see loss, you can see profit, right?
Sells instead of buys.......+2400 in 1.5 weeks.
I know there is a time frame out there that told somebody to do it!!!!!!!!
The allure of forex!!! ........ double x11 equals 1 MIL.