DislikedThe move occurred prior to news, I don't know why but CAD had a sudden move across the board. I didn't take this setup (though I was planning too) as the fast move caught me out - I would have either not taken it or reduced risk on it because I would class that move as impulsive.
I definitely wouldn't have taken a total loss on it after the half decent reaction (relative to the impulsive move) i.e. would have moved my SL to above the reaction bar high at least.Ignored
I apologize, but I didn't quite get your answer.
The big spike bar occurred exactly during US Core CPI news release plus other CAD news releases.
This is the bar I am referring to. Had I placed my stops outside the CP zone, I would have been stopped out. The trade didn't quite get stopped out simply because I placed it above resistance.
Considering that for such situations we should trade with a limit order ( a sell limit in this case), where would you have placed your stops considering that there was news coming?
Sorry if I misunderstood your answer, but it wasn't very clear to me.
Best.
JP.