Updating on 8.25
Price had been pushing down for the entire year up to this point but over the last month-and-a-half roughly, price appeared to be on a reversal. This morning, price was on it’s second down-day, but sitting on a prior-resistance support area. I could see price rallying back up from that support area, so I looked at this long.
Entry – 0.63420
Looking at the 3 min. chart, price was somewhat choppy, but definitely pushing up. Prior to getting into this trade, price had pushed up to the recent highs (though it didn’t make a new recent high) had pulled back and was on it’s way back up. I liked the retest/bull pullback, so I set an entry order
Exit – 0.63359
Price triggered me in to the trad and almost immediately pushed back down and stopped me out. Looking a couple hours into the future, price mostly danced around below and around my stop-loss area; eventually stalling at some support and then pushing back up, past my entry but not quite to my target.
This is another scenario where I, seemingly, just picked a weak pair, or maybe picked a decent pair, but at a weak time period. IDK. I also don’t love the whipsawing I’m seeing prior to my entry, so I need to be wary of that, and look for more clean movement and entries — at the same time, though, I want to be in the habit of trading, so I do find myself forcing things sometimes. I think this might’ve been one of those times..
