We are in a corrective channel now and looking for a break to the upside. A strong break of a 4 hr candle followed by a small correction and I will trade the break of the correction or flag. If price continues down the channel look for opportunities and bull signs in the PRZ.
First break attempt failed and here are some reasons. Breaking your own trade rules usually comes back to bite you. I only had one lower time frame candle, my rules says wait for a minimum of 3. High RSI and Stochastic should have been a warning.
Discipline is one of the hardest things to master. When I took this trade a voice inside my head told me it may not be a good idea. Unfortunately the hopeium won the day.
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