Going short on AUD/CAD
Updated
Reason for entry:
Any patterns?: Sort of a double top, the election messed up the chart a little.
Divergance?: No
Risk/reward ratio: 2.1
Potential profit: 83%
Indicators: RSI, CCI, MACD all bearish
Multiple time frame support (1W, 1D, 4H):
Moving Average: Below moving average
Upcoming news announcements: None
How confident are you with your position?: Pretty confident, my only concern is I took the position 8 minutes after the market opened, ideally I should wait about an hour after markets open to start trading.
How do you feel in general?: I feel good :)
Any patterns?: Sort of a double top, the election messed up the chart a little.
Divergance?: No
Risk/reward ratio: 2.1
Potential profit: 83%
Indicators: RSI, CCI, MACD all bearish
Multiple time frame support (1W, 1D, 4H):
Moving Average: Below moving average
Upcoming news announcements: None
How confident are you with your position?: Pretty confident, my only concern is I took the position 8 minutes after the market opened, ideally I should wait about an hour after markets open to start trading.
How do you feel in general?: I feel good :)
Trade closed: stop reached
Lesson learned: Never enter a position when the market just opened wait atleast four hours for the first candle to form. If it's in your favour then proceed, if not then wait for an entry signal.Comment
Lesson learned: I need to work on my execution timing!
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