Right, it seems to be moving away quite nicely.
It didn't quite touch the trendline though, or give it a good test, so it's not impossible to see the bulls try to take another go at it. If that happens, I will watch until price gets underneath the trendline, and if it looks like price is going to burst through, I will stop out and wait to see what happens.
Price is jumpy, it is sometimes haphazard, on these shorter timeframes at least, it is unpredictable. There's nothing to say it has to respect the lines that we draw on our charts.
A large spike in either direction for no apparent reason is always a distinct possibility.
Our focus should not be therefore on trying to predict what is going to happen, or draw better lines, or use different indicators to try to cope with, to impose our will, on something that is essentially largely random.
Rather, we accept that this is what price does and we devise ways of working
around it. Instead of moaning about volatility, celebrate it. If a spike for no reason stops us out, wait and assess, and if it still looks right, enter again.
I missed the bit where someone said we have to be right first time, every time.
Lower the position size and take a few goes if necessary.
Then when possible, get a stop to breakeven, risk off the table, and let the market do it's thing. You either lose little/nothing, or you win large.
Set your position size small enough to ensure that no one losing trade is ever going to take you out of the game.
There really is nothing more to it than that
