Another Loss

Well, what can I say? Although I was correct in pointing out the initial trouble area, I guess my greed got the better of me! I had expected that the pair would resume its downward trend.

Of course, there's no such thing as a sure thing in this business - and I accept this loss.

In looking back, I did not act when the pair ran into problems. Perhaps the tell-tale sign that the bulish momentum was still strong was the size of the double pin PA - it's pretty small when compared to the bullish bar that preceded the PA.

If the PA had bigger size, then perhaps it may be able to power thru the resistance areas, so this is something that I need to learn and bear in my mind.

So, this trade was NOT a failure. It did what we had expected it to do. I was simply expecting too much from this trade.