M6E - BE +2
MIJY - Taken out at -24. Don't feel too bad about this loss. Harmonics had me convinced of a shift to the upside. Three moves down and an initially strong move to the upside had me looking for a NSH. BUT...looking back, to trade this as a NSH expectation would have had a huge SL. Going into this one I vacillated back and forth for a good hour. Looking back the best course of action may have been to just sit on the sidelines. If it can go either way it probably will. The deep retracement created a NSL that I chose not to heed.
Second lesson: Counter trend trades are a fine thing if you limit your profit target to a reasonable expectation.
Next!
MIJY - Taken out at -24. Don't feel too bad about this loss. Harmonics had me convinced of a shift to the upside. Three moves down and an initially strong move to the upside had me looking for a NSH. BUT...looking back, to trade this as a NSH expectation would have had a huge SL. Going into this one I vacillated back and forth for a good hour. Looking back the best course of action may have been to just sit on the sidelines. If it can go either way it probably will. The deep retracement created a NSL that I chose not to heed.
Second lesson: Counter trend trades are a fine thing if you limit your profit target to a reasonable expectation.
Next!