one of the most difficult situations in trading is the first retrace against your trade entry AND whether you will be able to take the 'heat' - which often times causes you to exit right before the trade you entered goes to a profit.
after the period high what-where is the first initial base setup during this period AND was it profitable - IF no what-where was the next base setup?
yellow dot: this is the initial reverse on the break of the yellow line - IF you did this trade you were selling a lower high double top-floor pivot reject - diagonal line breakout with additional room below the breakout --- not base.
red dot: price reject with mex flow into-through the 2 left side channels from the diagonal line breakout --- this is initial base - was it a winning trade AND could the retrace be held where you are still short at the last bar of the chart?
IF you sold the reject bar low instead of waiting for the left channel breakouts you could have filled a base partial - so profitability was dependant on whether you entered into the breakout OR on the breakout.
could you hold the trade? this is the problem - the lower you entered after the breakout the less likely you could-would hold your trade - especially IF your exit was predicated on the fast chart reverse WHICH my guess is that someone went long there as well. consider the trade is trailed with a base partial AND with the 120t WITH no fast chart buy setup -vs- what i often see as channel breakout entries - no partial AND flat with a loss when the fast chart reversed.
120t blue dot - 52t blue dot: the 120t blue dot is a very good base setup - it is a right side reject-failure of the yellow line initial reverse-through the blue line WITH diagonal breakout potential after the channel breakout traded into --- i do not like selling the 52t blue dot as an area low triple bottom breakout WHEN a setup like the 120t blue dot was available.
period trades: sell the red dot location AND with a partial the total trade would not be a loss IF held with the 120t --- IF lose from a channel breakout entry OR go flat the red dot sell - the 120t blue dot is the re-entry.
