Can you confirm what time of the day the trade was taken? I can't tell from your screenshot.
It would appear though that the trade was taken shortly before the open of the DOW, which can be choppy. I always wait until after the DOW opens (out of all trades 15 minutes prior to DOW). Also looks like your M1 short was right into the M5 Coral. Look to your higher time frames and you will note that you were shorting against the M30 fast trix - which had turned up and green, indicating a trend change. I cought a piece of the big long that started at 7:30 am PST as I could see the markets turning that direction.
Hope that helps.
It would appear though that the trade was taken shortly before the open of the DOW, which can be choppy. I always wait until after the DOW opens (out of all trades 15 minutes prior to DOW). Also looks like your M1 short was right into the M5 Coral. Look to your higher time frames and you will note that you were shorting against the M30 fast trix - which had turned up and green, indicating a trend change. I cought a piece of the big long that started at 7:30 am PST as I could see the markets turning that direction.
Hope that helps.
DislikedHi all
Got a failed trade early today. Hope to hear some comments. Thanks.
Entry rules:
1) M5 trix red and crossed
2) Price below Coral
3) Laguerre RSI heading downIgnored
Without vision, the people will perish.