Saturday 19 January 2013

17/01/2013 USD/CHF short (loss)



This loss made it 6 in a row. Not easy to take, but when you're using strategies that have a win percentage between 26 and 47%, it can happen. Just have to believe in your strategies by doing the backtesting first. This was a short trade on USD/CHF daily chart. Chart explains stop, entry, target and reason for trade. Risk was 0.5%, aiming for 2:1 RR. Click chart to enlarge.






Here is the exit chart. As you can see, I made a loss.




In hindsight it was a little bit risky taking the setup without a good horizontal level to go with the EMA's. Look how it closed at the end of the day. It formed another pinbar, this time off a good horizontal level. This is probably a better place to go short from. 





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