FX:AUDNZD   Australian Dollar / New Zealand Dollar
51 2 3
Since last trade lost for for less pips than it might have we have room for some hedging strategy, SL has to be at previous entry and TP has to be at 1.126
we will give this trade 3 Hours to make it's move.
After 3 hours we will make decision to either continue with the trade
OR closing a 70% and moving SL to break even or just above
GOOD THING ABOUT THE TRADE IS IT ONLY HAS TO WORK 20% OF THE TIME TO BE PROFITABLE
I will take those odds anyday
Reason to take trade:-
Broke Ichimoku cloud on the uptrend
Hedging our lost position
RSI is not oversold
Broke 200SMA
Unfortunate I lost this trade but you lose some and you win some, my winners always take out my losers so it's fine #learn from mistakes
Reply
sleutha sleutha
I should have been able to see from previous 200SMA breaks that the price retraced back down before moving in the direction it wants. If i took that into account I would have entered the trade later on and my SL will still be nice and tight but enough to give the market breathing room
Reply
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