TRADE, USDCAD, 7.3.2017

TRADE SUMMARY: This trade was a great example of me not getting married with the position. My initial hypo for this trade was biased SHORT. Long run of USDCAD hit a decent area (marked purple on D1) and paused. On Monday open I have entered a limit short trade. This trade moved nowhere and started creating higher lows. I have decided it to call it a position at -0.4R and closed the trade. Since the market was creating new higher lows, my stats are telling me, that in the last year I have either been personally in a couple of these trades, or I have noticed many of these trades. It is that moment, when after run, market starts to create higher lows and wants to push higher. I have flipped the position and got long. Within 24hours my target was hit.

Pattern:

  • SDZP -> RAR

Good:

  • Not married to position
  • Flipping positions to opposite direction when new pattern emerged

Bad:

  • Nothing

To Improve:

  • Playbook trade
  • Repeat again

Result:

-0,4R + 1,4R = 1R

SCREENS:

D1

H1

M15

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