A look at the M5 chart might just create an illusion that the long would work out. But after having a glance at the H1 and H4 we can see that the present situation is still bearish. The H4 traced out a bearish "Dark Cloud Cover" formation and the H1 traced out an inverted hammer pattern after the Doji which might give indication of bears not ready to surrender. Looking back, the chart pattern in both the H4 and H1 had given enough evidence that long entries might be suspiscious. The trade was stopped out at 20p. The trade did went in my way for 3-4p or so. but at that time i was not aware of what the H1 and H4 chart was telling me. So next time when in doubt, leave the trade with small gains or worse with small losses.
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