I took a short on usd/cad because it was in line with the trend, and there were many signs of weakness that preceded the ND that I shorted. The UT was the first sign of weakness, and 2 bars later there was a massive shakeout that failed to produce a positive result. I like how the ND was in the buying tail of the shakeout showing that where there was once massive buying, there is now lack of it.
Soon after entering the trade and putting a tight stop in I fell asleep (3am my time) and woke up with 55 pips in profit. If I were monitoring the trade I would have taken profits much earlier or been stopped out a break even. My reasoning for closing the trade was that there are signs of no supply because of the Asian session starting.
Risk: 15 Result: +56
No comments:
Post a Comment