[fractal]

I chickened out on this trade a bit.

Having reached a Fib Extension target of Wave 3 = 2.618 times Wave 1, with a strong divergence on the 15 min chart, and the time of day getting late, and also with a down trend-line broken to the up-side, I decided to close one lot (1/2 of position) for +141 pips.

I moved the stop on the remaining lot back up just a tad, to +25 if it stops out. So, I can no longer lose on this trade.

Here are the particulars so far: initial risk was 5.4%, and so far have booked a gain of 12.7% of margin, for a reward:risk ratio so far of 2.4:1.

Here is a picture of my charts and trade station. By the way, lol, note on the trade station that I took an accidental loss of -4 pips when trying to close out half of the position. FXCM now allows 'hedging'; before, to make a partial close, you had to make a new trade entry that would immediately cancel part of the existing position. Now, doing that opens a new position (a hedge). When that happened, I immediately closed it and ate the -4 pips. Duh. Lesson learned.

Any comments are appreciated.