NZDUSD [4hr, Short]: Trend Continuation
Market in a downtrend, looking for entry on 4hr timeframe.
Bearish flag pattern formation on 4hr, giving me an opportunity for a trend continuation setup.
Entry: Market order at 0.68876 on the break of the lows of the flag
Stop: 1ATR above flag, 0.6942
Exit: Exit manually when price closes above previous daily high
Bearish flag pattern formation on 4hr, giving me an opportunity for a trend continuation setup.
Entry: Market order at 0.68876 on the break of the lows of the flag
Stop: 1ATR above flag, 0.6942
Exit: Exit manually when price closes above previous daily high
Trade closed manually:
-0.5R loss
Comment:
On hind sight, I exited the trade prematurely because I wasn't able to stomach the small pullback. Should have stuck with the trade and if it goes against it, it will hit my initial stop loss.