DislikedTook this trade on the GBP.
Used my "Extended MA" (looks like a CAT 5 ethernet cable with the plug off), but gave a fair bit away waiting for confirmation on the lower TFs.
Trade went positive about 7 pips and I moved my stop up 3 pips to -12. All was looking good...
....Then BAM! Down 9 pips in one tick, came back up to about 6 in profit and then dropped like a stone again, stalled just about my stop and took me out.
AttachmentIgnored
Bigtent
This was one of my rare touch trades. I got +10 out of it. Think i might be getting better at them thanks to kostas help. Here is what he has taught me so far. They nmay help you too.
1. Good by the rule entries. This example was perfect
2. Confirmation from lower TF. I watched 1m as price approached 15m 10 EMA
3. QUICK profit!! That is the key with touches.
Also i was worried here about that candle in 1H. Also i guess price is heading towards todays low. But thats not dance and am not allowed to discuss that here. However we did chat about it yesterday
Making money is easy- Just dont take losing trades