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Hello everyone,
This is my first post.
My question is very general, not pertaining to any specific market.
I was looking at a bollinger band contraction followed by the price hugging the lower band to go short.
It all looked legit but in the last moment, I just dropped the 200 EMA on it and backed out because of a strong potential support.
I am a novice trader and I would like to understand that was it only the 200 EMA or were there other reasons as to why the signal failed.
Thanks in advance.
This is my first post.
My question is very general, not pertaining to any specific market.
I was looking at a bollinger band contraction followed by the price hugging the lower band to go short.
It all looked legit but in the last moment, I just dropped the 200 EMA on it and backed out because of a strong potential support.
I am a novice trader and I would like to understand that was it only the 200 EMA or were there other reasons as to why the signal failed.
Thanks in advance.
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