GBPCHF
1st trade of week. Not really gonna look for anything else today as a new month begins tomorrow.
Would rather wait for the new month to begin and see how the rest of the week wants to play out with lots of major news announcements out this week.
Price was failing to break through 3rd touch of trend line so opened trade on confirmation of line holding on M15. Not much really happened from when I took the trade last night till sometime today but finally we got movement in the direction I was looking for. Ive scaled out 1/3 position and stops at BE so no risk on table. Gonna let the rest ride to my TP2 and TP3 or stopped at BE.
J
Nice trade...I have been watching this pair since last week...been looking for a good place to take a short position...didnt get a setup until this morning...only to miss it when i went out for a few hours..lol. If we break the 1.5270 pivot and seller keep forming bases of R above price...we will keep falling...there is room to fall. If we bounce back up from where price is now (1.5295, there is some support, so more likely to bounce)..we are more likely to reach 1.5250 and drop from there....
ReplyDeleteIts kinda annoying when that happens. I often miss out on some trades from due to timezone as some nice moves happen at my overnight but I guess thats the game and we cant catch em all!
ReplyDeleteTP 1 and 2 have been reached now gonna see how far I can ride this. Would love to see a daily close below 1.5250
That was a lovely trade, did yu manage to get your 3rd and final target. Trade like this will cover for 3-4 losses...they dont come very often. The same discipline and patience you have waiting for such a trade, is the same discipline and patience you should have to wait for all your targets to get hit. A lot of traders focus on having a good entry, but they forget also to focus on having a good exit or profit target. Well done mate, nice trade.
ReplyDeleteThanks Joe! Was wondering how ya been. Its been kinda quiet at the moment. I wish I could say that I held to my final target but bailed around ECB conference. Lesson learnt though...stick to my guns!
ReplyDeleteI am good mate, its been very quiet, didnt have many setups this past week and this week. Its the most difficult part of trading, to hold a trade to the final target, coz the market doesnt move in a straight line...and any huge pullback will scare some traders to take their profits. But yu have set your targets and moved SL to lock in some profits...yu have nothing to worry.
ReplyDeleteWhen i have taken my 2 targets and set my SL to lock in profits, i dont even need to look at that pair as long as it doesnt produce a setup in the oppossite direction, i just let it run its course.Well done mate