And this is why it's good to take profits, as Big E said.
I check for set ups at 10pm Pacific,2am and close all 4 hour trades by 6am Pacific....
Playing with longer timeframes opens up the chance of big reversals.
On the plus side of daily charts, a big reversal like this on a short TF will just blow through the "safe" and distant stops.
In terms of profits not much and running about $20 loss. The last few trades may change that unless a sharp reversal occurs.
I check for set ups at 10pm Pacific,2am and close all 4 hour trades by 6am Pacific....
Playing with longer timeframes opens up the chance of big reversals.
On the plus side of daily charts, a big reversal like this on a short TF will just blow through the "safe" and distant stops.
In terms of profits not much and running about $20 loss. The last few trades may change that unless a sharp reversal occurs.