USD was on it’s 4th down-day in a row and AUD looked strong and recently broke out of a resistance level. On the hourly chart, this was in a pretty clear bull-pullback, so I set entry orders.
Entry 1 – 0.65196
Price based for a while throughout the day, but eventually, it pushed high enough to trigger me in.
Entry 2 – 0.65523
Price was moving steadily in my favor, and began to base a little before it hit 1R. I decided to put a second entry order near 1R, to increase my position size on the move, which triggered.
Exit – 0.65182
While it didn’t skyrocket, it was steadily pushing higher. It got within 8 pips of the new 1R, but that wasn’t quite close enough for me to move my stop, so I left it. I checked in the middle of the night, and price was heading down, but it was still in profit, so I left it alone. By the time I woke up, though, and got to the computer, it had dropped enough to stop out my full position — break even (essentially) on the first and a medium-sized loss on the second.
I learned this morning that there was a news announcement out of AUD, which caused AUD to drop — I don’t know if I would’ve done anything differently if I’d known that, but it is something I need to pay more attention to.