Disclaimer I’m updaing this on 4/10
I looked at this pair the day before this trade, and even had an entry signal open, but it never triggered. Price moved up and pushed higher than where my stop loss would’ve been so I cancelled it. When I got to the charts this morning, this looked like a good short again, and price was right above where my original entry point would’ve been.
In the previous 3 losing trades I used the 15 min. chart to determine my entry signal, and since I lost those trades, I told myself I wouldn’t use the 15 min. chart anymore. When I got to this pair, though, the hourly chart wasn’t showing me much, and there was a pretty clear low base on the 15 min. chart. I disregarded my rule in this instance only because I had looked at this pair at the same entry price (with the same target) the day before and the R:R offered was a lot better than the previous day.
Entry – 1.75434
Shortly after entering my entry order, price moved down and triggered me into the trade.
| Entry Order Level |
|---|
| 1.75434 |
| Stop Loss Level |
| 1.76145 |
| Target Level |
| 1.73765 |
Exit – 1.74362
Price moved in my favor, and once it reached 1R I was able to move my stop to break even. Price dropped again, pretty aggressively and with my last few losses, I wanted to lock in pips, so I started following my stop along the SAR on the 15 min. chart. Eventually, it reached a price where it reversed enough to stop me out, but for a beautiful 107 pip gain!
