XPT Sell at trendline rejection

25 wrz

Analysis:
- Trendline: Down trend
- Strong resistance at the trendline; Engulfing after touching the trend for 3/4th time.

Trade Setup:

- Entry Point: 983.700 (waiting for trendline breakout)
- Stop Loss: 990.000 - 991.000
- Take Profit: Exit upon break below the trendline / 900.000 ( previous low )

Disclaimer: This journal is for personal educational purposes only. Trading involves risk; always do your own research and consider your financial situation before making any trades.

25 wrz

Zlecenie aktywne

Active

25 wrz

Transakcja zakończona: osiągnięto poziom stop

SL touched, triggering 700 pip loss.

Lesson:
Price had broken previous high at 978.00, and was making a higher high. So it makes more sense that the price is making an upward move. Check on which high or low is broken and align moves with the trend.

25 wrz

Transakcja zakończona: osiągnięto poziom stop

Revised note:

SL touched, triggering 370* pip loss.

Lesson:
Price had broken previous high at 978.00, and was making a higher high. So it makes more sense that the price is making an upward move. Check on which high or low is broken and align moves with the trend.