I did my RSW on Monday, and in doing that, I discovered this pair. It had been pushing down for several months and over the last 2, had been ranging. Price was near the highs of the range, so I figured it’d be a good short to the bottom of the range.
Looking at the 1min chart, price had pushed down, and was on a rally, so I set an entry order on the push back to the down side, with a trailing stop.
Entry – 1.31686
Exit – 1.31584
Price pushed down pretty strong, pretty quickly — hitting my take-profit within a few minutes. I considered lowering my take profit, or removing it and seeing how much profit I could make with my trailing stop, but the TP was hit too quickly. If I had let it ride, it would’ve been a break-even trade at best, so it’s good that I left my take profit. Let that be a lesson — trust my take profits and trailing stops and let my initial plan ride.
