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Why did I lose in this trade?
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[QUOTE="DRFXTRADING12, post: 147837, member: 32678"] I actually shorted this earlier this month for 100 Pips on my Live Account..trading on the Larger Time Frames.. [IMG]https://1.bp.blogspot.com/-ZPsEZfw_9rM/Wut7jIVGk1I/AAAAAAAAH7k/ZMIjVSVT3FgimuFQpoHZZ_Kns3-svjm7QCLcBGAs/s1600/Screenshot_20180503-143036.png[/IMG] [IMG]https://4.bp.blogspot.com/-gaHKLwK7nHU/Wu33rEckkiI/AAAAAAAAIAI/lH2JIjECy8It8DRt7Fqvb6vEkAE5A3IiQCLcBGAs/s1600/20180505_132636.png[/IMG] First of all, Resistance and Support Price Points on the lower charts like the 15 minute are usually very unreliable. Some will work but even when they do, you dont know when they will or how much of a Stop to use since the market can respond to them after temporarily breaking them by 10 Pips, 30 Pips or even 60 Pips. Also, if the market is forming a Pattern like Consolidation or an Uptrend on the Daily or 4Hour Charts that is in conflict with what you are seeing on the 15 minute, that Resistance point can easily be ignored. This is one of the reasons why trading on the Larger Time Frames is better, especially when using Candlestick Patterns that have fewer False Signals than Suuport or Resistance Points. Duane DRFXTRADING [/QUOTE]
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