If i am seeing your chart correctly you went long around 3:32 on that up bar closing above the cloud.
Notice how excessively wide the trigger lines are as that bar forms. I posted a few days ago about this nuance. When the trigger lines width is that wide it is unlikely that 1 candle going through them will turn the trigger lines back up. What is likely is price will come back down to them and either continue up or blow right back down through them as was the case here.
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Please explain that why you did not consider going short on two mini swings couple of bars earlier that also touched 13 ema. What distiguishes this one from the ones at 7:54 and 7:59 on 1508 chart. Thanks
Charles - I have a question on that setup (nice work on that trade btw):
In other trades, I've seen you wait for the bar after the doji on the 377 to close before entering (in this case I would expect you to wait for the bar ending around 8:12 to close before selling at its close). Obviously this bar closed low - around 4519 or so, and this would have prevented the trade b/c you wouldn't have 21 ticks before support at 4500. (I realize that we may have different bar closes or range b/c of different data providers)
In this case, I can understand several reasons for going short as soon as a bar closed below the cloud and triggerlines - there was a great deal of down momentum and a test of 4500 seemed inevitable. However, because this entry seems to be different than other entries you've made, I'd like to hear your thought processes during that trade to understand some of the discretionary aspects of your decision-making.
Seems my charts are slightly different. The bar two bars before your entry on my chart closed below the trigger lines. Entered on the next bar at 1.4528.
On the two failed setups at 8:54 EST and 8:59 EST you pointed out, do you only look at the break of the zigzag pivot on the close on the 1508 chart? My 1508 did not show a close below those pivot lows which matches your chart, but on the 377, there were closes below the pivot lows on the zigzag. I was hesitant about taking those trades because of the conflicting signals.
“Strategy without tactics is the slowest route to victory. Tactics without strategy is the noise before defeat.” - Sun Tzu