- My second trade of the day is RIO
- I entered Long, right after the prices exceeded the top of the 11am Hammer
- The Upper Shadow of the next bar made me uncomfortable
- It followed by another, this time, down-bar, with an Upper Shadow
- When this down-bar closed below the 5eMA, I thought there were enough 'negative' signals, and decided to exit the trade even though it didn't reach my Protective Stop yet
- As soon as I exited, it continued to head North
- Prior to my entry, my initial target was merely the Opening High
- The red line you see below is my Secondary Target. It is drew based on the Daily Chart (next chart below.)
- And the prices did went beyound my Secondary Target and managed to closed above it.
- I think the Red Line will act as a Support for tomorrow
- Something to look into for tomorrow
- But for now, what a big ouch! I have totally missed a big chunk of profit!
- I hope I made the correct decision with my early exit... what do you think?
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