12/04/19 USD/CAD SHORT TRADE 4H CHART [S786]
I missed my 12:30 4h candle check up and missed on about 10 pips on my entry, but there is still room for a 2:1 R:R on this Swing 78.6% trade
As you all might have noticed the AUD/USD and USD/CAD have been bouncing off 78.6%s in the daily chart. So I am placing my TP at the 786 of the last up swing and not my usual 127%
Markets have been incredible “choppy” and as it usually happens we can’t realise this until a few losses it is hard to change from 127 to 786 only to find out that your 127 & 168 keeps hitting…or sticking to 127% each time to find out it turns at the 786… Or to “exit & reverse” on each sign of candle reversal at the 786 or 618 only to see it continue the original way we were in (point in case EUR/GBP trades!)…
12/4/19 18:30 Update: S/L now at 1/2 unit risk.
13/4/19 9:30 Update: S/L now at Break Even 0 unit risk I am ready to move my S/L to b/e once the market opens. It has moved +1unit ie 1:1 and since i usually choose to take a trade that is at best 50/50 chance, I do so with the proviso I move to B/E as soon as the market has moved 1:1 or 1.5:1 in my favour.
Given the nature of the markets recently, I am opting for the 1:1 in this case.
16/4/19 Update: S/L Hit (0units)