DislikedEUR/AUD M5 Entry on break of support as SS turned negative. Watched it grind down all day then move against me, get stopped out by 1 pip, then it went parabolic and would have made me some pips. Stop too tight? {image}Ignored
I am far from an expert in M5 PASR, but I will chip in according to my understanding so far (part of my learning process).
Below is the chart which I think you see when you placed the sell.
1) There is no trend established before your trade. The saw-tooth structure was also not ideal, we see a lot of whipsaws going nowhere.
2) Did I mark your entry candle correctly? To me, that is an aggressive entry with no confirmation of Strat Shadow being formed.
3) Personally, I will never want to sell after seeing all the beautiful trending green candles. I have found their rate of success to be lower.
4) If you are selling because you think the upper time frames are with you, then I would have put my SL on step higher. Much safer IMO.
EDIT: 5) I will never want to sell into 200ema on lower time frames. It is the area where price will do funny things.
Of course, it is easier to comment after the trade has occurred. As traders, we really need to just take the most probable trade, and not enter a trade because we want to (GREED).
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