Aussie was on a nice rally for a couple of days and CAD, while not the prettiest, did show a lot of signs of weakness. This pair was in a high base, but didn’t seem to want to break out. I ate lunch and came back, and it still hadn’t. I looked at the baskets again, and based on those patterns, I was still comfortable with this trade on a breakout so I left my orders.
Entry – 0.875
I continued to monitor this pair as I had an entry order out there, and eventually (later in the day) it did move up and trigger my entry.
| Entry Order Level |
|---|
| 0.875 |
| Stop Loss Level |
| 0.86855 |
| Target Level |
| 0.88437 |
Exit – 0.86826
The strangest thing happened. I put the charts away, as I usually do, and just let my trade play out, but when I glanced at it a little later, I saw that price had spiked down, causing me to get stopped out, but it moved right back to where it was previously. It had a 110 pip drop and recovery within 2 minutes.
I did some googling and I can’t figure out what happened, but I can’t figure it out. The move wasn’t enough to even move either of the currency’s baskets — it was just AUD/CAD (I’ll include a screenshot). I suppose, again, that’s trading.
I’m up a ton on the month, so I’m not terribly upset and had that not happened, based on what happened overnight, the same result would’ve occurred — it did move to 1R overnight, but by the time I had gotten to the chart in the morning, it was already past my stop loss level — so it is what it is. Can’t get discouraged, though. Shooters shoot. This is trading so keep at it!
