I’m bearish on this pair based on each of their baskets, and on this chart, today is beginning to look like another down day. It’s somewhat basing right now, but there’s another level of support about 65 pips away that I think it could reach if it breaks through it’s current level of support. On the 15 min. chart, price is in a low base pattern, and there’s a level that acts as both support and resistance that I can use as my stop area to get a decent R:R. If the numbers are there, I’ll set the entry trigger.
Entry – 1.99265
I set the entry orders shortly before going to bed, and when I woke up, I noticed that my trade had been triggered
| Entry Order Level |
|---|
| 1.99265 |
| Stop Loss Level |
| 1.9967 |
| Target Level |
| 1.9866 |
Exit – 1.99702
The trade only took a half hour, so when I woke up to my trade entry, I also noticed that I was already stopped out. Not only did I take a trade right before bed, I did it with a small stop, and I knew I wasn’t going to be around to monitor it. If I had a wider stop, and a longer time-frame, I think this would’ve been a better trade. I may have chased it a bit. Live and learn.
