Signals shown: Price broke below PWP and one entire candle body was below PWP. HMA tomato and GRBB had 3 thick red bars. Daily and Weekly trend was bearish too.
All signals valid for a short on the pair. But I was not able to enter at open price. I was using an initial stop loss of 100 pips. Unfortunately, USD was bullish and stop loss was executed.
Trade details:
| Currency Pair: | USD/CAD |
| Trade: | Short |
| Method: | Modified PIPS Swing |
| Global Stock Market: | Mixed |
| Date & Time of Entry (GMT): | 7/12/09 10:29pm |
| Entry Price: | 1.0512 |
| Critical Level: | PWP |
| Initial Stop Loss: | 1.0612 (100 pips) |
| Basis of Stop Loss: | 100 pips for initial stop loss |
| Initial Target Profit: | 1.0312 (300 pips) |
| Basis of Initial Target Profit: | 300pips |
| No. of contracts traded | 1 mini |
| Planned Risk-Reward Ratio: | 1:3 |
| Exit Price: | 1.0612 (-100 pips) |
| Exit Time (GMT): | 8/12/09 3:07pm |
| Reason for Exiting the Trade: | Initial stop loss triggered |
| Profit / Loss (Pips): | -100pips |
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