Sad to say, despite my previous technical analysis of the chart patterns that prompted me to place a sell order, the price went 180 degrees. As you can see in the picture, I have been whipsawed. It is better for me to take a break to monitor the choppy situation and resume trading when the situation permits. Technical analysis can only help us ascertain the direction of the future price based on the current chart patterns and formations that we make out from previous prices. We can never know how the future price would turn out since we are not God.The only consolation in this trade is that I have the discipline to stick to the same stop-limit level. Had I pulled back the level further, I would have incurred higher losses.
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1 comments to "Trade #4: Loss of 18 pips"
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