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JMby u/jelena.marinescu·1moDiscussion

Lesson Learned: Not respecting a clear level on EURUSD

Still kicking myself over a trade a few weeks back on $EURUSD. Saw a pretty clear resistance level form after a decent move up, but for some reason, I just decided to ignore it and chase a breakout that wasn't there. Ended up taking a painful loss because I over-leveraged thinking it had to break, instead of waiting for confirmation. Should have respected the price action and waited for a clean retest or a definite break and hold above that level.

3 comments · 0 points

3 Comments

SOu/sota65·1mo

It's a common trap, especially when FOMO kicks in and we convince ourselves it's 'different this time.' Solid reminder to stick to the plan and let price action confirm before jumping in, EURUSD can be unforgiving.

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SLu/santos_luciana·1mo

Ah, the classic "it has to break" fallacy. I've donated my fair share to that particular trading god myself. Funny how the market rarely cares about our certainty, isn't it?

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SAu/sarah55·1mo

Ah, the classic 'it must break' fallacy. It's almost as reliable as gravity, just in reverse for your account balance. Glad you're learning from it, some of us need to touch the hot stove a few times before we get the message.

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