Expectation: We expect for today the third push up
In the morning we saw a new move below the sma21-8... a possible hint to move back towards the sma89.... anyway at 09:15 this hint was resetted because price closed above the last high
at 10:00 price again felt below the sma21-8, so again a hint for a move back to the sma89. at 11:15 also this hint was resetted by a close above the last high.
at 13:00 price moved back towards the sma21-8 and gave us an engulfing pattern...so I thought this was a valid buy possibility.
SL: just below last-low
TP: reversal pattern or ADR
after a few minuts price already moved further to the downside. Also in the 5min chart I felt it could go more to the downside. So I decided to close this trade with a lost of 8pips
at 14:45 price give us again a bullish engulfing pattern and went above the sma21-8. so now we wait for a possible reversing pattern for an attempt to cross the sma89...if so then possibly we also can expect a move to the sma200 and even the daily ADR could be a target....
at 15:15 we see the bearish engulfing bar...back towards the sma21. Entry candle reversed to 25% and so I went in.
SL is just above last high
TP: reversal formation, 161,8fib level or ADR-level
The trad was oke.....only the market was very volatile...price went a little above the Las thigh...and I had the feeling the price went up...so I closed the trade...and opened the other direction (not following my trading plan) well wrong decision... it is still a problem....trading if the plan doesn't say it!....
and so I lost myself in a bad trading habit....to much trades....with to less confidence and more based on H*O*P*E :(
For today I'm disappointed in myself after nearly a full week of win...today I have a lost of 31pips
Again a learning point.... and Up to tomorrow!
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