SPD (Sports Direct) - SELL *Trade Closed -1.0 R:R*

Ok, I'll start by saying I really shouldn't attempt this trade as I'm trying to catch a top with no good previous SR as reference, but it does at least have some good features

Reason for trade: Sharp price rise over last couple of days, good looking pin bar, turning 3,2,2 stochastic and MACD divergence.

Entry: 279.6
Stop: 295
1st Target: 1:1 R:R

Well, on the plus side it looks like I managed to catch the top, however still waiting for price to make a major move down. The wait continues....

Leaving this to run as is, however just taken a look at this on IGCharts and am shocked at the difference in look to PRT, I'll post what I'm seeing when I have a few mins as having looked at it for 5 mins or so I'm baffled! I assumed PRT and IG daily charts should look roughly the same... that said having seen Wig's spike the other day, perhaps not!!

strange indeed...



no pin at all on finspreads just to chuck that into the mix
cheers

Here's what I see on IGCharts, I can safely say that I would not be in this trade based on the Finspreads or IGCharts!

Well this turned out to be one big mess in the end!

Firstly having entered the trade I realised that no 2 charts could agree on what the price chart actually looked like for SPD, some showing a pin bar and nice run up and others printing a chart that you wouldn't even entertain!

After which I identified a need to bring my stop in, however then had no internet for a while and was therefore unable to do this, after which I missed the chance.

Anyway to cut a long story short, bad entry, bad management and given these two factors a -1.0 RRP loss.

Chart (on which I took the trade) shows break of pin where I was stopped out.