It was an hour before market (open cry) close, and I decided to short a wedge breakout, with target set at S0.5 (which is also roughly a Fib50% of the previous session's range).
What I needed to see almost immediately was price slicing through pivot.
What I needed to see almost immediately was price slicing through pivot.
It didn't, and I was very reluctant - in the event that price were to bounce from pivot to test the base of the wedge - to hold my short through the throwback.
So I did what the usually courageous me would never have done - moved my stop to break-even plus one.
I am still not sure what I am feeling about the scenario that played out right after I was stopped out: CL nosediving to S0.5 on a breakout pull-back setup which I didn't take.
What I am certain of though is that I am definitely starting to pay attention to risk management and capital preservation, and acknowledge that they are an integral part of trading.
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