anticipated price break below this minor line...hoped it would turn into a major move despite it being near lunch time. As price was showing weakness entered at 24798 with limit sell, then price did move down to 24788 rapidly, but then it also reversed just as rapidly stopping me out. I had moved stops from 24808 to 24803. I should have chosen 24804 based on the price action, but had done so hurriedly. I was actually in the process of moving my stop to 24796 when this occurred to guard against exactly this move, but was not fast enough. Obviously have to act more decisively than I have been. Immediately after stopped out view below:
I'll be the first to admit my stop was too tight, because after bouncing along the trend line for a bit prices dived like I was expecting. One thing I will do next time is draw the trend line denoting the current trend above the area of congestion, and be sure to place the stop above it.
Obviously this failure is unfortunate for me because this trade would have been a massive victory.
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