Disliked{quote} I think it is great that you share your trades.....both successful and not.........we all learn from this and maybe we pick up something we hadn't thought about before..... Thanks RJ. PM1Ignored
Lets have a look at this failed trade.
For the trade:
* The major trend is down, so arguably, the trade was with the main trend. But....looking at the H1 chart, is the trend trying to turn?
* Possible pivot rejection
* Pretty good signal from Matrix, and M15 stoch......M5 stoch a bit suspect.
Against the trade:
* Counter to the post London strong bull run
* M5 stoch not well placed
* Euro seems to want to push up and AUD wants to push down...which will result in EA going up, not down.
Conclusion...... the technicals were no toooooooo bad, but as PM1 mentioned, M5 stoch was poorly positioned. Further analysis of each currency, AUD & Euro shows that this trade was not going to fly, and the EU pair confirms this.
So, here we have a CT trade that failed, and that closer examination would have shown that this was a poor trade.
Thems the breaks!!
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