GU DEMO 10/29/2019

Oct 29, 2019

Once I saw the SFP candle (arrow), I entered short with a stop above the thrust candle for this level. However, at that moment I was unaware of the trendline break & clean retest. The Shooting Star that followed the SFP gave me a bit more confidence, but then we got this pretty wide ranging Bullish Engulfing (trade below the low, close above the high of the previous candle; Red arrow). It isn't preceded by a downwards move, so that can make it invalid, but it looked like a strong enough signal of a bullish move. This and the trendline break was enough to shake me out of this trade (closed manually at the red dotted line with the X). Maybe I got scammed out of a decent trade, maybe the trade wasn't decent after all. I think it has too many mixed signals to be a good trade.

Lost about 0.5R here.

Oct 29, 2019

Note

Mistake in management:
Wait until candle closure to exit a trade.