Tricked myself into an ORB setup (flat top for 3 candles) with room to the upside of the daily range ($28.78 area). It broke flat top @ $28.57 level, which was also the Mid Pivot Line for double catalyst. Failed to hold the breakout in one candle and I failed to bail as soon as it got back under. I've learned that's usually a reversal signal with Pivots but I let my fear of being wrong keep me in the trade until it broke the lowest candle in the base ($28.49) and got under the rising MAs. I gave it the full support range rather than bailing where my instincts told me I should ($28.56).
The challenge is I now had this losing amount in front of me as I traded my next moves. I let this hole affect how I traded the next trades, which is a weakness I am working on by telling myself that each trade is a new step and that nothing done previously ever matters.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2016-12-21 09:50:07 | JNPR | buy | $28.570 | long |
2016-12-21 10:01:00 | JNPR | sell | $28.480 | 0 |
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