Newbie here , can you all tell me the possible reasons why this trade failed ??

I opened a long trade at 6.982 and resulted in fail.
what could be the possible reasons ???
i am a newbie learning hoping to improvee.

https://preview.redd.it/40yuf2pv5lnb1.png?width=1920&format=png&auto=webp&s=a5234b6ef159e75c0a115155b5a0c3bf909b7680

reddit image

8 thoughts on “Newbie here , can you all tell me the possible reasons why this trade failed ??”

  1. Maybe because you followed the tips from the“90% accuracy futures trading“ video?:D I don’t trade and don’t rly understand what you did there but you basically thought they would break through the resistance before even testing the resistance right?
    If I would play sth like that, I would wait until the retest from top to the resistance then go long.
    Idk about the knowledge behind this trade or events that may have occurred but to my understanding just looking at the chart, you went long before a strong short time resistance was even touched?
    I think that’s called purest gambling.
    As is said I don’t trade so maybe I’m just talking sht, would love so to correct my thinking if that’s the case.

    Would love to know your strategy behind this trade.

  2. Dinosaur here, you need to supply more information about what was it that think failed, tell me what you was trying to achieve and what that was based on. Ie. I’m going buy x with a profit target or x and a loss target of x. My order entry was based on technical/fundamental criteria.

  4. I can eyeball the fib levels on the image from that swing high to that hammer type candle swing low and guess it retraced to the 786 before dumping, invalidating the swing low and hitting an extension probably the 414 or 618.

    You went long at the exact moment to go short.

  6. Haha, well, I may have gotten a little too excited and skipped the resistance test. Lesson learned! 😄📉

  7. There was a bearish divergence signal (higher high on price but lower high on oscillator) right before you entered your position, so that’s first!

  8. Never again traditional trading, only options on lyra, bumper because I am protected from the fall of the market. No matter how much I was advised about futures, and learned, I always suffered because manipulation is always present. So, I feel sorry for your case 🤨

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