What would you have noticed if you pulled the chart earlier? at 11:00-12:00 the double top was prominant and the small reversal would have screamed "sell now while you still have a chance!"?
Hogwash, would you have sold then, even if it wasn't the mental stop?
Guess i can't put it all on 1 page
30 min No annotation(better for practice)
60 min (no annotation)
Bounced out of the drop zone, like i thought it would.
Here is some more practice for.
IPAR Chart Series.
yes, I wanted to sell on the small reversal, each has their own triggers, and even before Ironballs gave us feedback, I could see that a small bear flag was forming on the 5 minute 200 sma, and that it could be a measured move, the second leg down from that small bear flag (small upslating flag on low volume, a low volume bounce, after a leg down) would be around 14.72. But I also did not want to jump ahead of my mental stop loss, because I wanted to show that once it is hit you honor it.
Actually when it went under 15.42, it broke what I thought was a ascending triangle formation, and that was the trigger to jump ahead of the mental loss and sell.
slow down, IPAR is not the only stock out there. You don't have to ever get a winning trade out of it, ever have to trade it again. That losing trade is over. Don't try to hang on to the loss by having IPAR give it back to you.
The best thing was that you honored your loss, that is the flip side of booking profits.