DislikedHi Everyone,
Can I ask for some help here.
...
Any help with what I did wrong would be helpfulIgnored
Here is my simple take on things -
- You are following some of the correct steps - price < 10 < 200 EMA. So that is good!
But that alone is not enough. We need to work out the logic of the trade. I am still working through this myself (certainly not an expert), but there are a few things that I can see that would have stopped me from taking this trade:
- Timing - just before NY close - hence lower volume and momentum.
- There is an area of S/R which seems to be holding up quite well. I wouldn't sell into it.
- The 50 EMA is flat. Tells me that we are ranging
- Your signal candle is not an 'Arjun' candle. Even if it was, for me, it would be in the wrong place.
- Emmanuel7788 would probably mention the H4 candles. the previous H4 candle is an IB, and the current H4 candle is inside that one.
- I don't see the LH-LL pattern. When I look back at many of my losing trades I see that this is missing. Perhaps it means something.....
I am really just a beginner, so please forgive me if my thought process or analysis is incorrect!
Happy trading!