Most of my journal in fact are pretty much detailed on my own journal but I’m just going to repeat what I write on it. Here was what happen.
Notice on the shaded area. That’s a fresh supply. Why ? 1. strong imbalance, 2. short period being at that price level. 3. 3: 1 profit margin. Retracement was a first visit. Why I didn’t bothered the stair casing price approach ? Because the demand was not very significant but It could slow it down but not much and that depends how big the sellers or seller ( me ) be at that level. I was shorting the pair for a 2.5 million volume. SO it did made some significant impact on who was the last buyers.
The order filled at 1.30513 for 2.5 million. 5 minutes later the price drop significantly. My trade close nearly half of my position for 1 million for 10 pips and the remaining 1.5 million was close manually since only a few sellers willing to sell at my buying close. SO I force the second position 1.5 million for my dealer or broker to accept my buy to exit my remaining position. which it was filled for 11.7 pips. So in total in fact I was close for a total 21.7 pips.
SO the price really did drop significant on the smaller time frame.
What did I do best ?
I took a plan and execute it at the present moment of the price action.
What should improve or change ?
Nothing. stick with the same routine.
What’s next ?
Sleep and see anything tomorrow
Happy trading every one!!