AUDNZD short trade on 5/8/22
Pre-Analysis:-
- Correlation reading shows NZD was the strongest currency across the board. AUD weak if compared to NZD.
- Entry during London session, time of entry 4:41pm
Post Analysis:-
- Trade closed with small loss.
- Price dropped after I made entry until reach approx. 1R profit. Along the way I move stop a little bit to mitigate the risk.
- During New York opening price showed some aggressive reversal, then I decided to close the trade with a loss approx. $7
- Nothing I can do as price unable to reach intended 2R profit.
- But the way I manage this trade make this trade loss only minimum amount, this kind of management will save my account. Keep trying overall good and improve trading week.