EURUAD – closed at 1.4352

1.43 gmt

The huge spike here wiped out almost all my profit. I closed at 1.4352, for just +6 pips after being up +100 pips yesterday!

Some might say I should have closed this yesterday when the profit was good. But there was no technical reason to close the short. As usual, hindsight is always 20/20.

The employment numbers have come as a real shock to the market. I guess I am lucky to escape lightly!

The 1.3860 target of the double top has not been met. Perhaps this is an instance of failure of that pattern. Or the price could go back up to the NL and drop again to reach the target after some more days.

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2 thoughts on “EURUAD – closed at 1.4352

  1. Jones

    Hi Zen,

    Maybe next time you might want to close half the position when you hit 100 pips of profit and trail the other half. I’ve noticed that your trades were often in 100+ pips of profit and then bang a sharp reversal leaving you with nothing.

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  2. Johannes

    I agree with Jones. I feel mentioned when reading the post because is a point we have previously discussed. Another option could be set a SL in the value that made the position 1:1 risk. I mean, if you had a initial SL of 60/70 pips, and the trade is moving around 100/110 pips, place a stop in the value of 50/60 pips of profit…

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