EURCHF long trade
Pre-Analysis:-
Strength Number: EURCHF (+3 / -7) CHF is very weak
Fundamental:- No news event for both currencies.
Market Territory:- Price traded under buyer's territory.
Trading Plan:-
Trade Classification:- B trade
(correlation / strength number & market territory support this long trade. only fundamental show no data to support this trade. therefore I class this trade as B class trade.)
The pullback:-
- There is no much selling pressure as we look at M15 chart
- All small sellers unable to break lower.
- Finally there is buyers kind of aggressive as shown in label (A) up move.
- After seller failed again following the buyer at (A), then I took an entry after that.
Entry:- 1.08124 (10:22pm)
Lot size:- 0.01
Stop:- 1.07954 (17 pips)
Exit:- 1.08464 close trade at 2R profit
Post Analysis:-
- I took this trade for 0.01 lot only as my training on how to manage a trade.
- The set up kind of not convincing me to take at normal risk that I practice.
- Price went up very slow and the trade was not going anywhere.
- Finally at 12:22 midnight I decided to close this trade, it did not perform at all.
- Max price went to 0.74R only.
