The Trade: GBP/CAD Short
Reason/Setup:
I entered this trade based on the A-MACD and Elite setups, both on 4 hour chart. The entry seemed ideal on the A-MACD setup as the moving averages were just crossing and the AO and MACD were pointing to a move down.
On the Elite setup, I was a little late with the entry. But the 3 EMA had crossed below the 34 SMA and the trend was downwards.
Trade Details:
- Date Entered: April 21 2008, 7:30am
- Entry: 1.9897
- Lots: 5
- Stop Loss: 1.9972
- Target: 1.9797
- Date Closed: April 21 2008, 9pm
- Result: Pair hit stop loss.
- Total Pips: -375
- Profit/Loss: $372.11
- Rating: 3.5
As it can happen sometimes, entering a trade based on a long candle can be dangerous. In this case, I entered towards the lower end of the candle and the price continued to move up ever since. Unfortunately for me, I did not catch the move up as it would have been a good trend to catch.
0 comments:
Post a Comment