Friday I entered short at a low resistance level. However after my entry the price went back up and I was stopped out of all 3 positions.
Results were
-55pips
-75 pips
-100 pips
Total – 230 pips
However for the week I was up again at a total of +364, so it was a profitable week. That is all I am looking for.
Mondays Trade Setup
The price is currently in a channel which I have drawn the lines on my chart. I am anticipating the price to hit that channel wall and continue to slide.
So here it is:
When the price hits the horizontal line or the trend wall and then bounces of of that, I will enter short on the next 4hr candle.
I will open 3 lots -
1st lot with a limit and stop of 55 pips
2nd lot with a limit of 100 pips and a stop of 75
3rd lot with not limit and a 55 pip trailing stop
