Short Trade Plan
Reasons:
1 - Trendline supporting the bounce from 9 Oct. was broken.
2 - The second trendline (trigger), was broken too, and re-tested this morning (EU session).
- The short is validated by the failed move to get back above the trendline.
3 - Once we break the channel low, the trade should be going well.
15359 is the swing point that must be taken to proves that the trade have real potential,
without this event, don't fight the trend unnecessarily and only with a well defined setup / plan.
Invalidation (stops):
- A new high above 15520.
- A new high above 15500 should have the trade validity questioned.
Trade Recap:
Entry: 15475
Stop: 15520+
Targets: 15210 & 14900
It's a counter trend trend on 1H & 4H, so don't rationalize the trade, it either work or be stopped, no second guessing allowed, or fiddling with the setup.
Remember: Being right is NOT as important as not being wrong... ;-))
Reasons:
1 - Trendline supporting the bounce from 9 Oct. was broken.
2 - The second trendline (trigger), was broken too, and re-tested this morning (EU session).
- The short is validated by the failed move to get back above the trendline.
3 - Once we break the channel low, the trade should be going well.
15359 is the swing point that must be taken to proves that the trade have real potential,
without this event, don't fight the trend unnecessarily and only with a well defined setup / plan.
Invalidation (stops):
- A new high above 15520.
- A new high above 15500 should have the trade validity questioned.
Trade Recap:
Entry: 15475
Stop: 15520+
Targets: 15210 & 14900
It's a counter trend trend on 1H & 4H, so don't rationalize the trade, it either work or be stopped, no second guessing allowed, or fiddling with the setup.
Remember: Being right is NOT as important as not being wrong... ;-))
Trading success is not going to be entering winning trades, but how you exit your losing trades.