GBPCAD short trade on 8/8/22
Pre-Analysis:-
- Both currency on the weakest side across the board. But I still want to trade this as I saw price structure seem to be on the downside. There was breach of price to downside in fact some strong breach. Although correlation did not support this trade but I took the risk and only plan to take profit at 1R only.
- Trade during New York session approx. time of entry 10:00pm
Post Analysis:-
- I closed this trade with profit, reach 1R as intended.
- But I made one very silly mistake, I wrongly calculate trade size it suppose to be around 0.22 standard lot but I entered trade with 0.09 standard lot only.
- I loss opportunity to hit around maybe $29 profit as this mistake.
- Need to focus more and check everything before made an entry.
- In term of trade as I couldn't find any pairs suitable to trade then I try this pair. I am correct on the analysis but in term of execution I made a mistake.
- Chart when trade was closed:-
