Trade #2 Short from 38888
Updated
Running into resistance from Descending trendline from December
Low volume so not expecting this to be broken on first attempt - maybe 3rd
similar pattern to last trade but more patient with the entry this time after US open
Low volume so not expecting this to be broken on first attempt - maybe 3rd
similar pattern to last trade but more patient with the entry this time after US open
Note
Price wicked up 200 above previous high.My stop was at the same level as the high.
This trade had the potential to be a good trade if stop was 250 above high.
Keeping your losses small has nothing to do with how close your stop is.
It has more to do with greed. The tighter the stop the larger your position size and the more potential profit but this has a very real cost. The tighter your stop is the more probable it will be a losing trade.
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