20070322 - IMCL - 15mins - Loss

Symbol: IMCL
Type: Long
Entry: The beginning of the 10th bar
Exit: Stopped out during the 14th bar
Result: Lost -0.44%

I saw the strong 9th bar that closed at its high. With the rising 5eMA, I was hoping that the rising price will continue to ride along the eMA, and wishing thinking that, it will break through the Opening High and continue upwards to the next Fib. Extension.

It turned out that the price did break-through the opening high but it went out of steam. It failed to close above the Opening High in the next few bars, and eventually fell back. My Stopped Loss kicked during the 14th bar.

Looking back now, I think this trade was too agressive and optimistic. It is definitely not the style of trading that I can afford to practise at this stage of my trading-life.