Here is the 10 minute KC chart. Notes below chart >>>
By
tymen1 at 2008-05-09
The opening and my very late short entry are shown by the vertical lines. At my short entry the MACD was going up, the BB going slightly up - resultant going slightly up - best entry near upper KC band.
I got a very good entry at 70. (purple line). The target profit line can be seen but the stop loss is too high for the chart. I considered this trade to be somewhat high risk because of the rising of the BB at the red candle of the star.
Now what happened?
The trade oscillated between profit and loss as it went along. I was determined not to exit until it hit my target profit. I could easily have done an exit at any time it was showing profit, but then your risk/reward ratio is interfered with.
So I plodded along.
The last candle shows that the price came within a fraction of my target profit!!
Next chart.