Why add to a losing position? Because the overall trend is correct. Yes – I could have closed the other buy positions with better amounts – but the overall percentage was made.
51 pips and nearly 8% for the day so far. Not bad. Will see if anything comes up later in the day.
*EDIT*
So I went back in after and grabbed some more.
Here’s the rest of the trades taken.
As you can see – price was in an up trend on the higher timeframe.
There was an inverted head and shoulders pattern on the M15 – which is a bit hard to see on the regular charts. It was actually easier for me to see on the phone versus the desktop.
But it was really plain to see on the line chart.
This is why you should do your multi-timeframe analysis and also check for your setups/patterns on other views.
That’s it for me today – have a good one!
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