Ashstead Group SELL

Hi

Reason for trade

Weekly trend down H,L-LH,LL-LH.LL

Sell on pull back,

Signal reversal bearish gapped up bar

Confluence Weekly S&R level, Monthly R1 pivot and 78% fib and a rejection of a trend line what more
could one want.

Entry to be triggered 92.6
Stop Loss 98.5
target limit order 77

Trade Closed LOSS 1XR

Stopped out of this, guess I should have waited for a bearish candle after the single reversal
bar, that would have made an evening star a 3day reversal signal.{ better signal)

I also did not pay sufficient attention to the huge reversal bar, rejecting prices

see chart

Lessons learned. I have to add here my trading plan is a learning journey, I shall be
tweaking it from time to time , eliminating weaknesses and building on streangths.

I will provide a summery profit/loss etc and as to how I believe I have performed after each set of 10 closed trades.

That oversize bar looks odd. Was there a reason behind it, news release, broker update etc? I don't trade stocks all that often but were it forex I would have looked to tighten my stop a little way above the high of that bar.

Hi Jopester

Thanks for your response

Your right an oversized bar, I did recognize that at the time but had confidence in my set up so did nothing
tighening my S loss would have been a prudent move.

Another lesson learnt ( of many)