dojitrader
Short

Looking To Sell The Top End Range Again

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
65 2 0
Think I've tried this a couple of times and price has always come up short of my entry.
Perhaps this time, although it's looking pretty weak at the moment.
Be overjoyed if I could get .8395 with a stop @ 84189.
Cheap try and it just might work for a ride to the bottom of +200/50 pips
dojitrader
2 years ago
Well . . . I guess it was just to delicious a target not to make a stop run. Everybody
and his dog could see that just above the Nov highs @ .8414 would be the stops.
So, my stop placement was poorly thought out. I left the charts yesterday at 1900 GMT
without a limit order as the candles at the time showed much bearishness.
I lucked out !!!!
Will be placing a sell at the top of the hour if this current candle remains a shooting star
with stops just above it's highs around .84339 or so - I still like the idea, but I'm picky
about my candle signals so i'll become more patient if this shows much upside from here.
Reply
dojitrader
2 years ago
Rats ! ! !
This is a good example of why I prefer not to trade limit orders and also why I should.
Unable to be around for the 1400 GMT candle close at 1600 on the 2 hour chart I missed a great place to enter this trade with lowest possible risk. Or I just could have
allowed for greatly slop with bigger stops on a limit order.
These are the things that make stop placement so critical/important/tolerable.
Hope many others are in at a good level with low risk !!!!!!!!
Perhaps I can redeem myself with some sort of retrace.
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