Hello again my friends,
I would like to share with you today a missed trade but from my perspective was a smart move.
Here is the chart and bellow it a small commentary about it:
Hour was 7.30AM GMT, proper time, good signal, MACD turned down, %R was above -80 level, I was ready to open a position at 103.16 for 10 pips, SL @ 103.42, BUT one thing didn't fit over there, and that is the movement didn't break the regression channel, so for me that's a sign there is a possibility to retrace a little (and for UY, EY or GY a little means at least 30 pps). And as you can see it moved back to 103.47 so would have eaten my stop loss going over it with 5 pips.
So I missed this trade, but I don't mind, I saved 10 pips. I'm sure there will be more soon. For example: EUR/USD and GBP/USD are ranging right now and I'm sure they will go somewhere soon, so I expect it to happen and if I'm there I will take my 10 pips of glory
Regards and happy pipin'