Price Drops into resistance and positive divergence. Targets are indicated with protective stop losses as shown.
Comment:
Hindsite is always 20-20. The Trade failed because there was huge resistance at target levels that wet against the long trade. However position sizing protected the account from damage. As long as capital is available for taking the next trade and we limit the loss to 1% of the account size - this is still a good trade.
Good Trades are defined by following the rules without expecting a guaranteed profit. Bad trades are ones where random rules are applied and result in a profit which reinforces bad behavior
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Good Trades are defined by following the rules without expecting a guaranteed profit. Bad trades are ones where random rules are applied and result in a profit which reinforces bad behavior