EY

LATE ENTRY

-8

Took a short here in this area, mid to short term trend was down, it appeared to have broken some resistance in the 1hr and 15min time frames, I waited for a stochs cross, macd on the 1min unfortunately turned against me a few minutes prior, macd in the 2min was converging, both bad signs, but I had 1min stochs down giving me some play room, the stochs began crossing down, but price failed to move lower signalling bad news at which point I immediatelly tigtened up my stop. Price failed to go lower and 1min stochs began losing momentum, as 2min macd began crossing... at which point price spiked 30pips. I could see a reason to long from where I was, but the risk/reward was not good considering I woukld be counter trend trading against so much. My hunch was right and it only moved 25-30pips from the low...retunring to what was the 5 on the 15min.