ouch, I entered with a larger stop bc of my confidence in the pattern, but turns out today was respike day. The SL wasn't the big problem I have with this loss, it was doubling down on my size. If I was using consistent position sizing this would have been more palatable. Also I never paid myself when it was profitable.
Decent winner after a rocky start to the day thanks to some TEFS platform issues. 1st entry - 5.935 2nd entry - 5.647 1st exit - 5.677 2nd exit - 5.55 Stopped out when it crossed over the 20 EMA signalling a possible reversal 5.55. My goal was to hold this down to 5.00, but I am very happy to by green on this trade today.
This was a nice easy trade. I wasn't planning on this one before the market opened, but when it popped up on the scans and I saw it was trade-able on TEFS I started looking at it. Daily looked good and weak for a continued fade down. This has more to give so I will be playing this and MRIN to start next week.