060407 - LEND - 15mins - Loss*Paper

Symbol: LEND
Type: Long
Entry: The end of the 11th bar
Exit: Stopped out during the 12th bar
Result: Lost -0.71%

When I saw (LEND) closed above its Opening High during the 11th bar, I thought that the momentum will continue because the 11th bar just appeared to be so strong. But my observation was totally wrong. The 12th bar immediately started under the Opening High, and it began to turn south. As I was about the enter Long during the 11th bar, I did thought about if I should wait to see how the 12th bar is going to paint. But I was worried that if I wait further, I will miss the entry. It turned out that what I missed was the sight of the correct setup, resulting in a Loss.