Getting to work on this today, here's a demo example trade I took on the EURCAD 15 min. I've shown two images, the before showing reasons for entry, and the after showing what happened. I thought I'd try the 15min charts first, because I get more opportunity to practice than the longer time frame, and action is pretty quick.
In this example, price fell around 30 pips below the asian low, and started to throw some pins, the volume bars beneath were high, and the price was also playing with the previous 2 day low, so I placed a buy limit order near the bottom and waiting for entry. The entry was at the bottom of the green bar on the right. The second chart shows how the trade played out, and even though it lost, I wonder
1. Whether the setup and reasons for entry were good
2. Whether the trade should have been closed manually whilst in profit, which of course when you're trading the hard right edge you have no idea that price is about to fall.
Any thoughts guys. I'm guessing the next pin highs were the signal to close the trade, but I'm the student not the teacher
Thanks
Pips 400
