GBPCHF

Im basing this on
-general GBP weakness
- bad gbp news this morning and through the week
-CHF took a knock yesterday (BH) and is recovering today

Comment:

I entered before the 1H close
I miss read the stochastic (somehow)
I didn't really the entire currency pair
I felt a little paniked when i entered

Comment:

I said NZD is the control pair in my plan - should I have awaited it to set up?

Comment:

Right at this moment (15 min chart) there AUD has strong control of group also

Note that right at this moment (15 min chart) GBP has highest volume. Is that useful information? I guess it means most eyes are on GBP so most likely to do something...

Comment:

Im sure sure how healthy this is looking - it's really struggling.

i REALLY want to pull some money off it. I'll hold my nerve till TP1 - assuming it goes there....

Comment:

I've closed 10% of the trade and tightened my SL. My account exposure is now 0.9%

I'll give this trade 1 more hour to prove itself then close it.

Comment:

I've pulled my stop into break even and I'll just leave it till the end of the day. Scenarios:

- I can be stopped out for Breakeven. (Plus i took a slither of profit earlier)
- I can hit target unlikely. Right now I'll settle for target 1
- I can close for what ever profit at end of day.

note - there is more news today but its at the end of the NY session and its Friday. There is EUR news in 30 mins - maybe that will give me something or stop me out.

Comment:

Forgot to note I have beautiful fib snaps. Like a work of art... The only reason I'm letting this run is that I have defence from the 38%

Trade closed: stop reached:

Stopped out for BR. The new release got me. Will there be something after the panic?

LESSONS LEARNT
- think on average if I take pieces of profit as I got I'll do better
- maybe I can trust my instinct a little more now. I have alarm bells screaming that this trade wasn't working.