Last night, I had put on an order to buy Crude Oil at 88.50. There was a nice bullish pinbar and I thought that we would see a retracement before a further move up since the bar was already so bullish (strong moves usually mean a pullback somewhere before further moves). The price action was strong and it didn't retrace at all and moved a further 200 points up. Unfortunately for me, it meant that my buy order wasn't trigger and I missed the action.
Today we got stopped out on our Euro trade.. if you look at the chart yesterday evening, you can see that there was a bullish bar.. it wasn't quite a pin but you can see that there was buying where the price had hit the 20 day MA line. At that time, it looked like a good place to go long and so I did! However, as you can see with today's price action, the market pretty much went into freefall and invalidated our entry and stopped out our trade. We lost 60 pips!
There was a huge move on Gold which we were expecting... it's just a shame that we were on the wrong side of the market. From the chart above you can see the price action. It was actually the 27th April when I had entered the market on the pinbar as highlighted. You can see the support line had rejected price quite strongly each time it hit this so I had my entry. I did know that the overall price direction was bearish but I was thinking that the market had been heading low
