dojitrader
Short

Failed Break Out or Bearish Trap ???

FX:EURCAD   Euro Fx/Canadian Dollar
84 1 0
5 times now this has tried to break out for new highs
and failed. A closer retest of the 1.5365 area should
tell the story. In my mind the odds favor another
downside run. Risk/Reward is pretty good, but,
psychologically a 90 pip risk is very uncomfortable
for me to handle. Smart stops, however, must go
above the breakout high.
Hope the candlesticks really, really light the way !!!!!
Rats !!! In a way it serves me right:
Afraid of a 90 pip stop loss I did not front run or
trust the candles, waiting for exactly my entry price.
So, looks I've missed a good trade by about 10 pips.
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