Today I will analyze my mistake regarding the stop.
The situation was as follows: Initially, I planned to short. But on the 30-minute timeframe, I saw the removal of an ascending fractal. I switched to the 5-minute timeframe and noticed a "flow of orders" where the price was step by step removing liquidity from below, as if indicating that it was not going to fall lower. And this threw me off.
Where I went wrong: 1️⃣ It was a weekend. And the market on weekends is thin and often manipulative due to low liquidity. 2️⃣ After the removal of liquidity from below, the price did not make a BOS (breakout confirmation for continuation). This is a basic rule in my plan, but I ignored it. 3️⃣ On the 5-minute timeframe, there was a reversal pattern against me. I saw it, but also ignored it (I will outline it in the screenshot).
Conclusion: I violated my own trading plan and got hit. Next time, no compromises: a plan is a plan.
