Entered short on horizontal breakout at 163,50, but a retracement followed, a round number rebound. It went till -13, one pip from my stop and i was lucky enough to see price reverse at this point, giving a quick +14 pips gain. Better (and safer) entry was at 12:26 time, after the MA rejection and fast Guppy EMAs rejection.
Monday, December 17, 2007
Risky breakout
Entered short on horizontal breakout at 163,50, but a retracement followed, a round number rebound. It went till -13, one pip from my stop and i was lucky enough to see price reverse at this point, giving a quick +14 pips gain. Better (and safer) entry was at 12:26 time, after the MA rejection and fast Guppy EMAs rejection.
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Although it’s good if it all ends well, but still this is something I won’t do, as the risk is too big and if we make even the slightest error, it can easily lead into several losses, so that’s why I would prefer going with trades I am more certain over. I can easily make 5-6 pips consistently thanks to OctaFX broker and their low charges on spread which is around 0.2 pips, so with such small spread, it’s very easy for me to work and it allows me to succeed.
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