062507 - DCEL - 10mins - Loss*Paper

Symbol: DCEL
Type: Long
Entry: During the 12:10 bar
Exit: Stopped out during the 12:40 bar
Result: Lost -0.45%

• I tried a 10-minute chart this time
• The prices hit the Fib Level and retraced back to the 5eMA
• It hovered around the eMA for a while, and formed a few consecutive hammers
• I entered during the last hammer of the sequence thinking that I would still yield a 1% gain if prices merely return to the Fib
• I also noticed the rise in Volume, thinking that it's another signal confirming another small rally
• But only if it's that easy! The prices retraced further back to the Opening High, before reaching my Target, plus a bit more
• Sadly, my Protective Stop has already been executed during the retracement to the Opening High