20070417 - KBH - 15mins - Loss*Paper

Symbol: KBH
Type: Long
Entry: The beginning of the 9th bar
Exit: Stopped out at the bottom of the 13th bar
Result: Lost -0.72%

I thought this trade is going to work out, but not! I supposed the long upper tail of the 1st bar could have served a signal of a shaky price. But the 3rd bar was strong, and the prices continued to advanced upward. The 8th bar cleared the Opening High, and I entered Long at the beginning of the 9th bar. My Protective Stop was set at the 5th bar low, which (KBH) had no problem reach my Stop 5 bars later. The fact that neither the 8th or the 9th bar were able to cleared the upper shadows of the 6th and 7th bar should have served a warning sign. Lesson learned!