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AUD/USD 23 February 2011 - Miss...
by Eva
Overall hourly trend at time of entering market
Entered on market the mallet candle formation which appeared at the intersection of two trend lines and a fibonacci line. I believed the trend lines would act as levels of support and bring the market up higher. Entry: 1.0022 Stop: 1.00070 Limit: 1.00450 I went to bed, and found in the morning that an announcement on the USD at 10am New York time (2am my time) brought the market right down and took out my stop. By the looks of it, I'm lucky I only lost 15 pips! The market later went back up to where my limit would have been. I believe my analysis was correct, but my timing was wrong in this instance. Note: You can click on any of the above pictures to make them larger and read the descriptive caption. |
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