Why I’ve traded like a cu*t this beautiful fractal
On Nov28 I have posted a fractal that I was expecting to play out that day. The fractal was posted before the open during the morning. Here it is:
What was the idea? Basically I wanted the asian lows to be taken by the open, then reverse and take the premarket high and asian highs before we reverse back to the median price. So what happend that day.
I want you to notice several things. When was that London open low created? After London open. When was the high of the day created. Just before NY open. 4 out of 5 checkboxes has been checked with that fractal. So why is my title with a cu*t word in it? Well, because we are stupid emotional creatures and I did not capitalize on all the opportunities. Here is how I traded it:
First and third entry were shit! Why? I was too aggressive and I not let the area to work itself. Steped in too soon, and was expecting immediate shit out. That did not happend. And since I have not played great levels, I simply cannot be that aggressive. So here is my lesson: fade aggresively only strong confluences with precise levels. Zone’s need to be worked out and need more time to settle.
Hope this was helpful. Have a great trading week.