I was looking back at this painful trade and realized where I went wrong. I somehow forgot to look left.
If you look at where this short trade reversed on Oct 5th, then look to the far left of the chart, you'll notice price bounced off a previous congestion (aka consolidation) area. I missed this when originally analyzing the chart. I could blame it on a number of distractions but it doesn't matter. Its up to me and if I miss something I will have to pay for it. Of course, I could miss nothing and still have a losing trade due to market forces such as news or a big trader deciding to get in or out or manipulate the market to execute a strategy. You have to expect losing trades when trading. Anything can happen. So making mistakes makes trading even more precarious.
The biggest lesson here is ALWAYS LOOK LEFT! A lesson I already learned but unintentionally didn't heed.
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