Long OIL 21 Jun'23
Updated
Risk control mindset was there
Trap was very clear
Location logic agreed
Flow agreed
I correctly sat through the pullback before the trade launched, having confidence on the invalidation criteria.
Trade worked with a blast move and started to pullback sharply
I moved SL up fearing a reversal but got taken out before the market moved swiftly in the direction I was trading, easily hitting the planned TP
But the reversal did not make sense from a flow or location perspective
I should apply the same criteria of trap, location, flow and liquidity for opposing moves to assess their genuineness
Trap was very clear
Location logic agreed
Flow agreed
I correctly sat through the pullback before the trade launched, having confidence on the invalidation criteria.
Trade worked with a blast move and started to pullback sharply
I moved SL up fearing a reversal but got taken out before the market moved swiftly in the direction I was trading, easily hitting the planned TP
But the reversal did not make sense from a flow or location perspective
I should apply the same criteria of trap, location, flow and liquidity for opposing moves to assess their genuineness
Trade closed manually
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.