FOMO? - Closed

 At 1000hrs, there was a huge spike down. I thought that after such a sharp move, price would break down again. I didn't wait for the 10M bar to close; just put in an 8-tick reversal. 


Should have done a 16-tick('290) or ambush ('260) after such a large move? Waited until the 10M bar at least closed? FOMO after last trade?  

Price came back to '295 since, but as of 30min later I am still in the trade and price is hovering around my entry. Also, ZB 10M is above cloud (&H above!), ZN 10M is in, ZF 10M below and ZT 10M is below.

Stop 10 ticks, Target 30 ticks (day trade).

Smarter move would have been 16-tick. Best option in hindsight would have been to wait, let the candles close and see what the market said. Patience next time....

Update 1155hrs: Surprisingly, I have been stopped out. Price went down to revisit the lows of the spike, and then ramped back up. This is the price I pay for patience today. But that's OK, learned a good lesson. 



That's it for today - two strikes and I stop (the real rule is 3 strikes, but two in a row is enough for me). Either I am not working, or the market is not what I think. So, save some money for Sunday night.

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