Having taken a loss on trade 5, I felt that the overall bigger uptrend was beginning to resume. Therefore, I was considering a long position.

In hindsight, I still don’t have much more to add about this trade. I don’t disagree with my entry criteria. However, for future trades, I may need to enter above the previous bull or bear candle, which I believe set the trap.

Nothing is 100% when it comes to trading

And knowing that it isn’t 100% certain is what keeps me going.

In this trade, I felt that the larger uptrend, visible in trade 5, was about to continue. However, I didn’t realise until afterwards that a mini range had formed.

Thinking that the trap was set, with this bullish move up (which also triggered my stop on trade 5), I waited for a pullback at a previous resistance level and then entered a long position.

Here, I felt that a few things had occurred.

1. Sellers entered too soon
2. Sellers were trapped with a bullish candle off the EMA
3. The stops of the previous HIGH had not been tested.

But this time, I was wrong.

Current Trades = 3 Wins – 3 Loss – 94 to go. Total +35 ticks.