Trade Results 10 Mar
Haven’t had a chance to trade with real money yet… So far, I’m only confident of trading MACD Divergence… Other price actions will need more practice before I dabble with real money…
Anyway, I made two paper trades today, one of them profitable, the other not…
Win: EURJPY (H1)
EURJPY 10 Mar
I entered this trade because of a failed breakout. At Bar A, the pair broke below the support of a trading range. However, the next bar is a relatively strong reversal bar (short tail at the top). I bought above the high of Bar B.
Lose: GBPUSD (M15)
GBPUSD (M15) 10 Mar
Bar A looks like a reversal bar. I thought bears would be trapped if they entered when Bar B broke below Bar A. Hence, I bought above the high of Bar A, resulting in a loss of 25 pips.
I guess no bears were trapped at B. Maybe the majority of them waited till the close of Bar B before they decide whether to sell. Hence, only a small number of over-enthusiastic bears were trapped at Bar B, resulting in a weak rally.
