Way down

Now hunting way-down from previous top and lost trade do to tight stop (previous post)
Position: Entry: 1.3818; SL 1.3835; TP: 1.3711
Targets (Fibo retracements): 1.3788  and 1.3779

Another los and another entry. It must go down.
Entered at 1.3841, no SL or TP

The Chart



Possible trend reversal on AUD/USD because it is touching  upper channel line. Also D1 chart shows downtrend and end of correction. We will see it soon.

Screenshot from 2014-03-05 17:28:22

Selection_001Looks like is going down to 0.8150

Bad trading 5 Mar 2014

bad tradeAfter some good day I have made mistake.

  1. Took to much risc. (actually incidentally by not checking how much equity I do put in the trade)
  2. Keep in mind some opinions in last week webinar with prospects for coming week.
  3. Not following a trend. My LONG trade was taken in the middle of progressing down trend.
  4. Because of high stakes I’am reluctant to close the trade.
  5. I think we will get double bottom formation and might recover.
  6. Political situation and tensions in Ukraine can have unexpected effects on market.

Result was -45 pips because I was hoping and did not cut the trade.