I started off the day with the right idea and then I switched my game plan and ended up losing 50 pips trying to go short prematurely.
What happened?
1. My preferred timeframe is 2H, however I seem to have been mostly using the 30M today. Lower timeframes have more noise and can lead to confusion which is exactly what happened.
2. I placed two Short trades today, one was mostly a gamble which I quickly cancelled for +3 pips upon realising it, the second I placed the entry to close to price action and it got triggered for -50 pip loss. It should have been 10 pips below the previous low. Both trades were placed using the 30M timeframe.
I threw out my initial idea and confused myself on the 30M timeframe. All in all a complete mess. I knew last night what price would likely do, yet I got caught out like the rest of the trading sheep.
Not happy.
