Symbol: BAC
Type: Long
Result: Lost -1R
- The chart below shows what I was seeing upon entry
- It is a 3min chart and the inside Hammer was what caught my attention
- Now that I look back at this chart again, I noticed that there weren't that much volume to support the hammer
- This chart below shows how prices bounced off the Pivot Points
- So when I flipped over to the 10mins chart, it was a Hammer that actually bounced off the PP
- A second Hammer followed, although it was a weak hammer
- But it still managed to closed above the 5eMA
- I decided to enter Long when prices go above the high of the second hammer
- My Protective Stop was the low of the 2nd Hammer
- Prices quickly retraced after my entry
- I was later Stop Out
- Although prices did climb back up, it never exceed the high of the 4th bar
- With this trade, it concludes my trading month of August
- I will post a month-end review over the weekend
- To my 3 readers, have a wonderful long week-end!
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