Pages

Rabu, 02 Februari 2011

Breakout and retracement

1.3757 (blue horizontal line) was the daily high. I was very cautious with that level, I closed trades, not waiting for the breakout, when price approached this  and found the slightest resistance. I had then two trades above the level, at the break of the high, very cautious again. But, from all these trades, the one I am proud of, is the last one, a breakeven. I closed immediately when i "smelled" that a correction was imminent.

As a scalper, I am realy privileged to trade as described above : imagine, on the contrary, a guy who trades the 15m chart and went long at the break, 1.3760. Taking an affordable risk, he has a stoploss of, say, 25 pips. But price retraced immediately after the break to 1.3728, 35 pips lower with spreads and stop was reached! Even worse, at the previous attempt to break this level today, price retraced 60  pips!.. All stops were taken...

0 komentar:

Posting Komentar