Trade 3: GBP/USD - SL Hit - 0.05% from entry
Things that might went wrong technically:
1. The price did not close below the 0.5 Fib retracement level while moving down from resistance, instead it took support at 0.5 fib retracement level. The same level also happened to have buyers' liquidity which is shown in red circle.
2. In 15min time frame, while the price was moving down from last few sessions, the EMA cross under occurred when the price was either below the Medium HMA or when the Medium HMA was above Shorter HMA. But when the trade was entered the Shorter HMA was above the Medium HMA.
3.In 5min time frame, while the Medium HMA was above the Shorter HMA and price, predicting a downward movement. In 15min the Shorter HMA was already above the Medium HMA, indicating an upward movement in 15min timeframe. So, it's better to enter trades in the direction where the overall MAs are moving, through finding the cross over or under according to the existing cross in higher time frames.
1. The price did not close below the 0.5 Fib retracement level while moving down from resistance, instead it took support at 0.5 fib retracement level. The same level also happened to have buyers' liquidity which is shown in red circle.
2. In 15min time frame, while the price was moving down from last few sessions, the EMA cross under occurred when the price was either below the Medium HMA or when the Medium HMA was above Shorter HMA. But when the trade was entered the Shorter HMA was above the Medium HMA.
3.In 5min time frame, while the Medium HMA was above the Shorter HMA and price, predicting a downward movement. In 15min the Shorter HMA was already above the Medium HMA, indicating an upward movement in 15min timeframe. So, it's better to enter trades in the direction where the overall MAs are moving, through finding the cross over or under according to the existing cross in higher time frames.
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