Setup turns wrong?

[Randy Cha]

Hi Immy and AIMSter seniors,

This is Randy. Have some queries. Please enlighten.

On M5, there is a buy alert (see yellow vertical line) and I waited for alligator to open mouth - open upwards.

120123_chart 3.gif

I moved to M1. There are setup 1 and setup 2. I only trade setup 1. My TP is 1.29077 (60 min High - see above attachment). Reason choosing this target is because there is a "clear blue sky" - no resistance from my entry to target objective. Here is the result. See below.

120123_chart 4.gif

It turns out to be a losing trade. Did I miss out something? Do I need to wait for a dot before I execute an entry? Your comments will be very much appreciated.

Regards, Randy