Price action rules over everything else! Your enty and exit probably, needs work. I look at the same chart and I see multiple opportunities to make monies. How you handle your trade once, in it is just as important! The stockmarket is "never" wrong!
The Nikkei is a dog. Trade the HSI and HHI. Problem solved. Then, OP, your foul mouth might just take a break from polluting these forums with your childish prattlings. Yet another sign of a bull market too long in the tooth. All the boys trapped in men's bodies come out of the woodwork. And it's no coincidence that there's more Forex talk popping up at ET. Forex...where anyone with 10 bucks can act like he's got trading skill and market cunning.
====I'm babyraging over this stupid market==== You surely are... Its' the first stage of the blame game ... It will pass The next, more advanced, stage is to blame yourself... It will also pass... Then calmness sets in, along with the realization that one can not change the market, and probably can not change oneself. What one can do is quietly, persistently, slowly keep obtaining the knowledge and experience over very, very, very long time... when the money is gone, along with the hair, along with the wife, along with the life.
Why did you short in the first place? Must not have been solid reasoning if you got shaken out just because of a retrace to your short price? You said good risk/reward but your stop was breakeven so no risk but yet wanted all the reward. There are no bad trades, just bad traders.
If you look more closely at your chart the market didn't just come back and retest it. It also made 1 tick higher than the previous high just enough to trigger buy stops for traders who were positioned short. At any given point in time the same number of contracts are held short as are held long. The market moves to liquidate (force to close for a loss) weaker hands and that money is transferred into the hands of the stronger hands. I am not talking about individual traders but the net result of money transfered. Traders with tights stops in a volatile market are easy prey for the better capitalised better informed traders. That does not mean that traders with tight stops cannot make money, it just means they are playing a game that is very hard to win.
that sounds like my life.. yes the market does the same thing over and over again..only one pattern....it is not a secret ..the pattern is the wedge but 85% of the time the wedge formation is not text book so traders do not recognise it: it took me 10 years, it took Brooks ten years...believe, like i believed that, you can be the best trader in the world. and put in the hours the years the decade