08:09 – S&P500 earlier on the Slope Rider colored a candle in blue, now 3 diamonds for divergence, so I enter my long order thinking markets need to digest the ow from yesterday, and bring the price up when the US markets will enter their shorts and push it down again.
09:15 – I close the trade with a small loss.
10:15 – now the price is moving up…I had a Stop Loss too tight which got hit by 2 ticks before resuming on the up…grrr…
10:30 I expected Gold to bounce off yesterday’s POC at 1254, instead it moved up and hit my stop loss.
10:31 – Gold surpassed yesterday’s POC and hit R1, I enter my short trade on the bounce off this pivot, now the price is in the Sell Area and at the top of Regression Channel.
R1 and Daily MA208 as protection for my Stop Loss.
Slope rider confirmed by coloring the candles, see screenshots from 11:25 and 15:01.
I moved my Stop Loss above 1260 the daily Ma 208, a long Stop Loss at 32 ticks, but then price moved up at such speed that Sierra didn’t manage to close the order until price reached a much higher price for a -69 ticks loss! S**t happens…
I tried one small trade on top of this for another 10 ticks loss and that’s it.
The lesson to learn here are:
1- the Slope rider entry signal is the arrow, the colored candles are not enough.
2- be aware that depending on which broker, data provider, and platform you use your stop loss may not get hit, or get cancelled or something else, so: be prepared for the impossible to happen! :-/