Traded on 1 & 5 mins chart. Chased the market to short NASDAQ after price dropped below the red resistance box, shorted at almost the lowest point.
A few signs showed on the chart before I really stopped my loss:
1. price lost downward momentum already at 17:00 GMT
2. 2nd leg at around 17:30 was a higher low
3. Price passed the downtrend trendline at 17:37
4. price touched, and also passed through the red resistance zone.
Was too hesitated to close my position, net loss of 4303.25 - 4313.5 = 10.25
I see the market today wouldn't be too volatile since it is testing a major resistance. If I trade for the remaining hours, would just do the fast swing trades.
A few signs showed on the chart before I really stopped my loss:
1. price lost downward momentum already at 17:00 GMT
2. 2nd leg at around 17:30 was a higher low
3. Price passed the downtrend trendline at 17:37
4. price touched, and also passed through the red resistance zone.
Was too hesitated to close my position, net loss of 4303.25 - 4313.5 = 10.25
I see the market today wouldn't be too volatile since it is testing a major resistance. If I trade for the remaining hours, would just do the fast swing trades.