Risk control was there but there was a bit of chasing
Trap was there in the form of sharp moves down that reversed swiftly
Location logic was there as the buy was taken near buyers but I could have been more precise and patient given the ECB interest rate decision in a few hours
Liquidity logic agreed; not in alignment of the big HTF trend, but in-alignment with the trading and medium term TF.
For these kinds of trades when a major news event is due in a few hours, if entering a trade, it is critical to ensure the trade is entered near the relevant extremes to avoid being whipsawed.
Trap was there in the form of sharp moves down that reversed swiftly
Location logic was there as the buy was taken near buyers but I could have been more precise and patient given the ECB interest rate decision in a few hours
Liquidity logic agreed; not in alignment of the big HTF trend, but in-alignment with the trading and medium term TF.
For these kinds of trades when a major news event is due in a few hours, if entering a trade, it is critical to ensure the trade is entered near the relevant extremes to avoid being whipsawed.
Trade closed: target reached
ECB interest rate decision led to a smooth ride to the TP area.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.