Tuesday 4 January 2011

EUR/USD week 1 (2)

1st and 2nd Trade
Saddle point

1st Trade
Break down fractal (x), Sell at 1.3327
Got stop out at 1.3380, a total loss of 53 pips

2nd Trade
Stop and reverse, break up fractal (z),
Buy at 1.3380






Close Position
Close my 2nd trade, hit my trailing stop loss, one tick below the bearish divergent bar low at 1.3386, a total profit of 6 pips..












3rd Trade
Decided to stop and reverse,
Sell at 1.3389













4th and 5th Trade 
Close 3rd trade, Hit my BDB high stop loss at 1.3419, a total loss of 30 pips

Then 4th trade, I stop and reserve at 1.3419, Got stopped out 1.3377 (5 bar trailing stop), a total loss of 42 pips..

5th Trade, break down fractal x, Sell at 1.3322


Should've added when it break fractal Z, but didn't see it.. Well if it goes around fractal Z, I'll add sell...


Close Position
Close my 5th trade at 1.3216, no sell signal but I need to go somewhere, can't monitor if i use the green or red line, coz it's a stop close only.. 

There's triple divergence anyway on 15 min chart so i play it safe.. :)

a total profit of 106 pips

Missed fractal X, so I didn't take fractal Z, risk management issue..

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