4. The price finally made an upside impulse and formed a bullish pennant which became a continuation pattern.
With this pattern the trader should take a long position. However, due to doubt and don't want to become a victim of SL for another time, trader decided not to open a position. And the result is price actually goes up without being able to get some profit.
After being hit by SL several times it does disturb our emotions as traders, but if we have calculated each risk of SL before jump into trade and put SL which suitable with our risk tolerance, it shouldn't be a problem.
JUST ENJOY THIS PROCESS
With this pattern the trader should take a long position. However, due to doubt and don't want to become a victim of SL for another time, trader decided not to open a position. And the result is price actually goes up without being able to get some profit.
After being hit by SL several times it does disturb our emotions as traders, but if we have calculated each risk of SL before jump into trade and put SL which suitable with our risk tolerance, it shouldn't be a problem.
JUST ENJOY THIS PROCESS
Patternception
running. move SL to breakeven. FREE RISK TRADE
close to breakeven
price break S/R level. if you still not in this trade, you may buy when price pullback to S/R area