Watching Gcad for a short around the 1.6100 area. Most trades will be off the 4hr candle's but sometimes off a 1hr candle.
I am not looking for 2,3,4,5,hundred pip runs. Most but not all of my trades will be closed within a few hours of them been opened, ( some times a few minutes ) and will usually but not always, be opened some time between 1 and 2 hours before LO till 2,3,4 hours after LO.
Most of my trades are market orders, a few are pending orders. My trading is quite discretionary. The ind's on my charts are there to help, not dictate the trades. I always look at daily and weekly time frames to check s/r, and to get a feel for the direction. Targets and stops are always set, but the trades are monitored and stops and targets are changed.
Also watching GU, AJ and EJ, all for possible shorts.
That was a very conservative trade, only 20 pips, but still thats 20 pips in the bank. The stop was tightened too quick. I feel quite sure that the momentum will carry it on and hit, at least the first target, and maybe the second.
Not to worry, +20 is better than zero. The entry was not bad, although taking the bounce off the pivot would have been better. Isn't hindsight a great thing.