pending breakout, page-33

Some heavy resistance showed up in the second half of the day, The Buy Depth leveled out to equal that of the sell depth and it was looking like the price was struggling after its attempt to hold 28c which ended in a sell down.

I could see the "to be" End of Day Gravestone candle forming after finding heavy resistance at 28c and a sell down all the way to the low of the day which followed.

Even though Support looked Strong at 25.5c, I exited the at 26c, only slightly in profit from my buy in price of 24.5c and 25c.

I have learn the first goal is to protect capital, and I was taking no chances despite what appeared to be solid support at the low, The Gravestone candle signals reversal after a uptrend and 28c was very close to that medium term trend line which I expected to form resistance.

Unfortunately not a exciting trade at all.

Did I do the right thing, I believe so given the information I had available at the time.

Only hindsight will tell weather the decision was a good one or not.

I did attempt to sell out at a higher level once I saw what was taking place but the market wasn't willing at the time.

Best of Luck

AA