USDTRY Daily Pin Trade - Loss

USDTRY Daily

Honestly this trade left me in shock. Normally when a trade fails, I'm able to identify the reasons during my post mortem. There is usually at least one reason, no matter how minor it is. However in this case I can't seem to figure out why. This is the best setup I've seen for many weeks, I absolutely loved it and was so confident that I didn't even wait for the break of the pin bar to enter it. I also risked 3% instead of my usual 2% on the trade because I wanted to try out dynamic money management - risking more on better setups. Needless to say that means I just lost 3% and I'm still feeling quite sore about it.

Price just shot up and broke through every single intraday resistance. In fact I saw many supply/demand setups as price was going up too. There was a nice Quadsimodo setup and a Sam Seiden setup that fulfilled all the Odds Enhancers. I really do not know what the heck happened, maybe exotic pairs just behave wacky. I know one thing though, lots of people got killed with me in this trade. I know because the moment price went above the pin, prices shot up like mad and the tick volume literally rocketed. This was the cascading of all the stop losses of the shorts like me who had their stops above the pin. I even suffered a 2 pip slippage due to the lack of liquidity during the spike. Oh well, gonna ask some guys for their critique on this trade so I can learn from my mistakes.