DislikedToday I am currently short Oil even though it is a HOLO long candidate right here. The reason I am staying short for now is that today price has broken below yesterday's low, Monday's low, and is in fact trading at a 5 day low. THAT is a breakout. The breakout can reverse at anytime, which is why I have a 25 cent stop loss. However, as a breakout of several recent daily lows, I am short anticipating a test of last WEEK's low price.Ignored
A HOLO long trade should have been a small profit as price did come back up through the Lowest Open and topped 25 ticks above the lowest open. BUT, being a breakout day, I would have waited for an m60 candle to close above the lowest open AND close either green or with a long tail below the lowest open.
My objective is to learn the skill of flawless execution of my trading plan