NZDUSD 0.5% loss
Time of entry: 8AM
Reasons for entry:
- Solid 4h break and close below this level
- Retest on 1h
- Failing to close above the 50 MA
Lessons learned:
- Against daily trend with no trend reversal patterns so Don't Trade against Daily trend unless a clear reversal pattern shows!
- The 1h candle retesting the res closed above, so I shouldn't have even entered, if I were to enter on the possible takeout then I needed a candle to close back below
Reasons for entry:
- Solid 4h break and close below this level
- Retest on 1h
- Failing to close above the 50 MA
Lessons learned:
- Against daily trend with no trend reversal patterns so Don't Trade against Daily trend unless a clear reversal pattern shows!
- The 1h candle retesting the res closed above, so I shouldn't have even entered, if I were to enter on the possible takeout then I needed a candle to close back below
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