Price has been ranging in this box for a while now, I'm waiting for a breakout at 1.54833 so I can go long and continue the uptrend that was happening before. As I cannot see the price falling past 1.51607 - 1.51425 I've decided to enter a long position to previous resistance at 1.53146.
Trade closed manually
Double top pattern, initially recognised this pattern but suspected it to be a false break. Trade closed manually.
Note
Price ended up rising, a more generous stop-loss would have been beneficial.Note
Lesson learned for the future with this one, price ended up hitting my TP perfectly. The emotion of not wanting to set a low enough stop ended up being my failure.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.