I made a good amount of pips in NZD/CAD in my previous trade, and it had continued to push up and was basing again. Looking at the baskets, Kiwi still appeared to have some strength, and CAD wanted to continue to push down. Though the breakout had somewhat already happened, it wasn’t my much, so I still took a shot.
Entry – 0.8841
Shortly after placing my entry order, price pushed back up and triggered me into the trade.
| Entry Order Level |
|---|
| 0.8841 |
| Stop Loss Level |
| 0.88 |
| Target Level |
| 0.89 |
Exit – 0.88405
This mostly based for most of the day, and pushed down. By the end of the day, I was pretty sure it was going to be another lost trade — but I followed my rules and stayed in. The next afternoon, price pushed up and had a nice spike which put me at 1R, so I was able to move my stop to break-even. Unfortunately, price reversed after that spike, so the SAR never moved enough to put me in profit, but I’m grateful that I was able to get out at break even rather than a loss.
