AUDCAD short trade on 6/4/23
Pre-Analysis
Entry
- Time of entry 8:45pm
- Risk 0.25%
- Exit plan, TP @ 0.894 approx. 2.85R
Post Analysis
- Trade closed at breakeven. Price went down to max. 1.24R but I did not exit and went back up again.
- I did not plan for another scenario which is what am I going to do if price did not break first support at 0.8990 level.
- Should I exit when that level did not cut through? and gain more than just breakeven at least.
- I started to feel good with the selection process to enter the trade but find it struggle to exit.
- Which level should I exit? or should I fix the exit level? how much gain should I target?
- Those questions need to examine and will be my guide to make a solid exit plan.
- Extra note: I choose this pair as no other pairs got trade set up although this trade reward was less than 1R.
- Price chart when I closed trade: -
