*I actually saw this on the 18th (yesterday) and had my entry order put out then — By the time it triggered, it had pushed further down.*
GBP finally broke below the base/range it had been in for a long time, and had room before the next major support level, it was moving when I got to the charts, so I had to find a good entry pattern. CHF looked strong again, and sentiment was risk-off, so it looked like a good long option.
This did a bear rally on the 15 min. chart, but my R:R wasn’t really there. I hadn’t traded yet this week, though, so I wanted to get a trade in, so I took half of a position size with my entry.
Entry – 1.1793
I left the order out all day, keeping my eye on it throughout the day — it essentially based the entire day. I went to bed, and it still hadn’t triggered, but it was basing. When I woke up, I saw that the trade had triggered and was near my target.
| Entry Order Level |
|---|
| 1.1793 |
| Stop Loss Level |
| 1.18295 |
| Target Level |
| 1.17522 |
Exit – 1.17735
Price, very slowly but surely pushed in my favor, and since my target was so close, I began following the SAR on the 15 min. chart as soon as I got to 1R. Eventually, price did spike enough to stop me out for a decent 20 pip gain.
