060807 - TLAB - 15mins - Loss*Paper

Symbol: TLAB
Type: Short
Entry: The end of the 16th bar
Exit: The 19th bar
Result: Lost -0.66%

• When the prices broke the base set by the 6th - 9th bar (see blue oval), I wasn't convinced that the setup is good enough because of the lower shadows formed between the 3rd - 5th bar.
• When the prices had the lower shadow of te 3rd - 5th bar covered, I felt that it was too close to the Opening Range Low, which could be the next Resistance Point.
• When the prices broke the Opening Range Low, it left a long lower shadow. I waited to see the prices fell enough to cover the lower shadow of the 15th bar, and I entered.
• I should be awarded for picking the lowest point of the day prize, because my entry price was the lowest price that TLAB ever got for today!
• My Protection Stop was set to right above the 15th bar, and it was reached during the 19th bar.
  

Where would you place your entry, and why?