Solana Long Position Failed Trade Review
So the trade I took at 21:00 UTC stopped out...
The candle at 23:00 took it out by a smidge and price may still continue downward after publishing this post.
We can see that price so far has touched the trend line twice and the trend line seems to now be acting as support. So I will be looking for a re-entry on another long trade.
The failed trade has made take pause and ask my self a few questions
1. Did I develop a strong bias over the last day, as I saw the price action develop a reversal? (or so I thought). In doing so, did this affect my judgement on timing of entry and stop loss positioning.
2. Should I have waited for a bullish candle confirmation on the Daily time frame?
3. Should I have have placed a long position on the breakout of the trend line and collected what I could from the move?
What do you guys think?
Until the next trade :)
The candle at 23:00 took it out by a smidge and price may still continue downward after publishing this post.
We can see that price so far has touched the trend line twice and the trend line seems to now be acting as support. So I will be looking for a re-entry on another long trade.
The failed trade has made take pause and ask my self a few questions
1. Did I develop a strong bias over the last day, as I saw the price action develop a reversal? (or so I thought). In doing so, did this affect my judgement on timing of entry and stop loss positioning.
2. Should I have waited for a bullish candle confirmation on the Daily time frame?
3. Should I have have placed a long position on the breakout of the trend line and collected what I could from the move?
What do you guys think?
Until the next trade :)