Account Risk: 0.7%
Stop: 1.0757 (48 pips)
Target: 1.0618, 4H 50MA (90 pips, RR 1.95x)
Mindset: Keeping the faith
Saw this short set up this morning. Prices have been rallying higher since the Fed rate decision, so decided to take the short. My mind is awash with reasons to not take this trade but I’m trading the system! So it’s a short from here. Here’s the set up.
4H Chart – the set up
I’m hoping for the 50MA – it’s a fair target if it works out.
Update 1 – Stopped out – 16 Mar
Just got stopped out of this trade. I don’t really think there’s much more to say on it, it’s one of those things. Another loser to add to the list. I really need to work on maxing out my winners! At the moment they are all pretty even in size so I’m net down after these losers and trading costs.