I absolutely should have taken the trade. Inside Bar stop loss (1 tick below the low) would have totally kept me in trade for the ride up.
The "M" shape with an Inside Bar attached to it is frequently found in "W" formations (which includes double bottom, 3 rising valleys, cup with handle patterns). I've had so many captured and stored in my files it was really unwise to not trade it.
And I totally ignored the bullish crossover of my shifted MA and my EMA. Something I just told D last night that I wouldn't do. A crossover that follows a consolidation is almost always promising.
I so want to kick myself. I'm sure price is going to hit Fib ext 211.8 at least (it's now at 161.8). Common for a "W" shape formation that has done a decent retracement (the "M" part of the formation).
The "M" shape with an Inside Bar attached to it is frequently found in "W" formations (which includes double bottom, 3 rising valleys, cup with handle patterns). I've had so many captured and stored in my files it was really unwise to not trade it.
And I totally ignored the bullish crossover of my shifted MA and my EMA. Something I just told D last night that I wouldn't do. A crossover that follows a consolidation is almost always promising.
I so want to kick myself. I'm sure price is going to hit Fib ext 211.8 at least (it's now at 161.8). Common for a "W" shape formation that has done a decent retracement (the "M" part of the formation).
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