This trade started so well, made a good entry at 0.5 and even added another trade as the price continued to drop.
I had hoped it would go some way to reversing some of the day’s losses and was aiming for another 25 odd points when it started going in the wrong direction.
It got to about -£27 and I was really sweating. But looking at the 5 minute chart showed it was still within the downward range so I held on.
I made sure to get out when it hit the previous low as it was looking like it would be a double bottom – I was right.
I called the double bottom correctly, shame I didn’t capture some of those points but I was more than happy to finish the day with a couple of nice winning trades, it had been such a hard day (40 trades!!) even though the final loss wasn’t as bad as I’d thought it would be.
Indices 12/05/2023 18:59:22