I was 2 candlesticks late (each candlestick is 4 hours) from the actual entry. I entered the trade anyway as the price was still around the same level. Paper profits increased for the next 8 hours. The initial stop loss was 80 pips away from my entry as this is a swing trade and I have to allow more room for price fluctuation. The stop loss was shifted to 18 Jan high at 1.0319 (following teacher). USD strengthened significantly and activated my stop loss.
Sold short at 1.0306 on 14 Jan 10.
Exit at 1.0319 on 19 Jan 10.
Initial stop loss: 1.0386 (-80pips)
Target profit: 1.0006 (300pips)
Loss: -13pips
You may also like:
- USDCAD (short) – closed on 8 Dec 09
- USDCHF (short) – closed on 18 Dec 09
- USDCHF (short) – closed on 4 Dec 09
- GBPUSD (short) – closed on 17 Dec 09
- EURJPY (short) – closed on 13 Dec 09
- AUDUSD (long) – closed on 13 Jan 10
- EURUSD (long) – closed on 28 Dec 09
- Olam (long) – closed on 10 Dec 09
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