Breakout trading
EP: 0.825
CL: 5%
TP: 10% or ride the profit
EP: 0.825
CL: 5%
TP: 10% or ride the profit
Comment:
Volume breakout at 5mil from the past 5 days, then 14mil for the past 1 year. I only caught them at the end of the trading session, thus I entered at closing. Quite risky.
Comment:
Reach SL for about 5%. It was going well, until today suddenly big red candle appeared. Waiting for market closing
Comment:
Closing at 0.8! What a rollercoaster of emotion this is.
Trade closed: stop reached:
CL at 0.760 (9%)
Comment:
Lesson Learned:
1. Entry point could be better? The volume spike was great, but maybe I need to enter just before breakout, and not closing i.e around 0.735/0.74/0.745.
2. It looks like a descending flag pattern, should be a cue to exit once it broke out.
3. The volume on 6th Apr was higher than 5th Apr, suggesting more and more people exited their position, probably can CL at 0.8 (closing) rather than waiting for the next day.
1. Entry point could be better? The volume spike was great, but maybe I need to enter just before breakout, and not closing i.e around 0.735/0.74/0.745.
2. It looks like a descending flag pattern, should be a cue to exit once it broke out.
3. The volume on 6th Apr was higher than 5th Apr, suggesting more and more people exited their position, probably can CL at 0.8 (closing) rather than waiting for the next day.