Entry was too early. We are not just looking for a 1m trix cross when 5m has also crossed. We are looking for one of those with a nicely developed spine. Not that I'm saying these trades can never fail, but it's harder for price to go back against the trade when you get the two timeframes moving together AND the rainbow spine is well developed.
Also in this case you had a triangle going on the 15 m tf. That entry was where price broke the trendline but didn't close below it on the 15 m chart.
At the right entry, where the rainbow was well developed, it had closed below the trendline. Temping as it is to enter early, in my experience if you wait for the rainbow and the trixes to line up you will still get your pips, and as a rule you will suffer less, because by the time the rainbow has spread out, the market has made up its mind which direction it wants to go in. (Naturally this doesn't go in indefinately. The first couple of entries after a true flip are the best.)
Here are the other entries from today besides what you posted. Notice that even if you wait for the crimson layer to show, you are still getting plenty of pips.
Also in this case you had a triangle going on the 15 m tf. That entry was where price broke the trendline but didn't close below it on the 15 m chart.
At the right entry, where the rainbow was well developed, it had closed below the trendline. Temping as it is to enter early, in my experience if you wait for the rainbow and the trixes to line up you will still get your pips, and as a rule you will suffer less, because by the time the rainbow has spread out, the market has made up its mind which direction it wants to go in. (Naturally this doesn't go in indefinately. The first couple of entries after a true flip are the best.)
Here are the other entries from today besides what you posted. Notice that even if you wait for the crimson layer to show, you are still getting plenty of pips.
Hello MissPips,
Let me know why this trade failed
Fundamental ?
The good, the bad, and the ugly!
