While I was working, my sell limit order fulfilled. At this moment the result of the transaction is not too nice. Perhaps I missed something, when I analyzed the chart. But I hope I placed well the stop loss above the broken trendline.We will see! But I have to review/reconsider my analyzes which was the base of deal.
While I was at English course, the price turned down from the trendline. It was very close - 8 pips distance - to my stop loss order. I pull my take profit order to the opening price of the deal - to 1,5375.
When the canadian CPI data came out, my transaction closed with 0 pip result.
I examined my analysis, then I came to the conclusion that, I did not commit serious mistake.But there were two things, which could made contra effect, as opposed to what I expected, these were:- I need to identify that, the moving average is not so strong resistance/support as a trendline,- there were a slight divergence on H1 time frame.I have recognized these two factors during my revision (until now).As the basic theory doesn't seem to be defective, I will continue to pay attention to the EUR/CAD chart, and in case of an appropriate signal, I will reopen the short transaction.
I placed a sell limit order to 1,5399.
While I washed my hair, my sell limit order fulfilled; and the price movement drew the 'head and shulders' candlestick pattern on M5 which I expected for it.To tell the truth, after that, I have placed my order, I recognized an upward trendline on H1 time frame. And now the price rebonded from it.But now, I need to go to the english course, so what can I do? My stop loss and take profit order is active, so I go and hope the best.SL: 1,5449TP: 1,5369Oh, yes, my Tp is narrower than the Sl, but I am afraid the price will test back the trendline (if it able to break down) - so, I chose a safer Tp.
I have got on the bus toward the language school, and immediately came on my mind my trivial fault.If I did not recognize the upward trendline on H1 then, my tp is acceptable. But if I recognized it, and in addition I wrote it down, how could I placed the Tp of a short transaction below the trendline? In this case, you need to place the tp above the trendline. And then, the RR modified 1:5, which is a wrong deal. So I must not open that.So, independent of the transaction's result, I committed an elementary mistake.
I closed the deal where I opened that, my loss is the spread.