Date : 24th -28th Apr
Spotted market in a bearish short-term trend as it fails to break key level. However an immediate entry on the daily time-frame requires a high risk exposure on my a/c, hence I’ve decided to use a smaller time-frame to position my entry.
What I needed for an entry was a sign/confirmation that market is also trending in a bearish direction on the smaller time frame. Price action has made a new low (1st), market retraces and failed to break previous high (2nd), Doji formed, making it a good winning/low-risk trade for me.
Sadly, I did not take the full profit that was initially planned as a strong hammer was formed on the small timeframe (similar reason for my entry).
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