Not so lucky this Friday!
Missed a small test on the 5min chart but this test was a part of a 15min test that was forming so took a long off the top of this. Entered @ 1.2915 with my stop @1.2889 below the low. Stop of 26 pips had me targeting 1.2941 for the first half of the trade. It didn't quite make it to my target and bounced from the high of the highest volume 15min bar.
As a friend I trade with pointed out to me, there wasn't a lot of strength proven on the marked bar and the test came too soon. We needed a move away and a revisit to attempt a long. We were stuck in between a rock and a hard place. The rock being the high of today's 15min high volume zone and the hard place being the high of yesterday's high volume zone.
About an hour ago we eventually broke the rock and printed a NS. It was looking at this resistance to turn support and placed an order on the top of NS that printed. I wasn't brought into the trade and cancelled the order.
EUR/USD 5 & 15min
I kinda broke my strategy by closing the trade early, but i'm glad I did to be honest, only lost 1.78% instead of 3%. I realised my mistake once it had bounced off the high and perhaps should've closed earlier. Something to consider over the weekend.
Not the best week, -1.78% in total. Looking forward to the weekend and getting started with next week!
Enjoy the weekend everyone,
Cheers,
Liam
P.S. There was a lovely short on Oil today, I'll hopefully post that later or over the weekend some stage. KIS Trading, if you're reading, you might like this entry!
Haha, can't wait for the oil setup. Do you use the futures or the USO etf?
ReplyDeleteIt's a US Oil chart through Sierra charts, i think it's the etf, yeah. Certainly not futures anyway! I've just posted the chart for you to peruse!
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