Reason for placing the trade: price had reacted at a 4H supply zone, we saw some wick rejections on the 1H and some momentum to the downside, i wanted to get in short because previous price action from the supply zone was a nice move to the downside
Why i think the trade failed: Firstly i was trading against the trend, price was above the MA on all time frames, not a good start! we had also broken out of a wedge so there would have been a bullish bias for many traders. future learning, try to trade with the market or if I'm trading a reversal wait for more confirmation rather than a few poor wick rejections and the smallest bit of momentum!
Why i think the trade failed: Firstly i was trading against the trend, price was above the MA on all time frames, not a good start! we had also broken out of a wedge so there would have been a bullish bias for many traders. future learning, try to trade with the market or if I'm trading a reversal wait for more confirmation rather than a few poor wick rejections and the smallest bit of momentum!