I place my Buy order during morning at 1.68 (mini darvas support) predicting that it will consolidate above after the breakout..
okay lets fast forward the time... after seeing the price that was way way far at my ask price before 3pm I didn't expect that 1.68 will be touched, then after I check again during eod, I was surprised that red scary candle was the closing price of that day
okay here's the plan...
(1) I bought CPM at 1.68 expecting to consolidate above the previous resistance.
(2) Cutloss is below 1.65
(3) Considering there's no resistance above I'm using fibb extension as my tp.
Update..
Another failed trade.. sad 😞
just sold @ 1.64 as planned.
I need to study more to know when the breakout was a bull trap or not..
Sometimes volume as my confirmation is not enough to verify that the breakout will continue..
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