060707 - SAI - 15mins - Loss*Paper

Symbol: SAI
Entry #1: The 7th bar
Exit #1: The end of the 12th bar (Stopped out)
Type: Short
Result: Lost -1.04%

Entry #2: The 19th bar
Exit #2: The 20th bar
Type: Short
Result: Lost -0.61%

• I saw the 3rd - 5th bar all setting a base at the $18.30 level.
• I waited till the price break the low of the 3rd bar lower shadow before entering Short.
• My Protective Stop was above the 6th bar high
• It reached my Protective Stop during the 12th bar

• Since I still believed (don't know why) that the prices will continue to head south, I re-entered another trade at the 19th bar for Short.
  
• My logic was that a base has been created at the $18.20 level, and I decided to give it another try once the prices broke the $18.20 mark.
• I went Short during the 19th bar.
• But the Protective Stop was triggered once again shortly after.
  

Looking back now, I think there weren't enough volume to support the signals and my observation.