leszekstanislaw

NZDUSD H1 - I was fool moving stop loss to breakeven (diary)

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
38 3 2
NZDUSD             is nice pair - a lot of harmonic advanced patterns. There was recently Butterfly , Gartley and now Cypher . All complete successfully so I thought why not.
But this pair loves making me fool. When I traded Butterlfy - there was very fast spike down, so I escaped with some profit thinking Butterfly won't work this time. It was lessson for me and with Cypher when there was pullback - I did not escape, just moved my stop loss to breakeven. And again - moving stop loss to breakeven wasn't good idea - because priced did return, kissed my BE a did what was expected....
Looks like I will be learning forex all my life :)

And by the way - now - as price reacted for 50% - maybe another pattern, bat?

What can I say - I just could repeat Akil Stokes sentence - Plan your trade -- trade your plan.

Happy trading, Traders!
Leszek

Just flies in my mind - maybe someones is trading FX:NZDUSD             as its main (or major) trading pair and could share with observations/conclusions? I will be doing some more backtesting with ForexTester2 but .... why discover America whilst we could share?
Hi Leszku, I'm not sure if that would be usefull for you, but look here:
NZDUSD retracing

It was really a trap on this last bottom, unfortunatly it's happend....:((
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diamondekk diamondekk
link is here:
NZDUSD retracing
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I traded this bat - was so obvious. Loss.
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