DislikedLive Trade in GBPCAD
finally this pair give me a Opportunity to enter
(Bearish) Condition + Pressur + Pattern = Trade Safe .Ignored
This is just my take on this chart - and while I realize this is after the fact, the points laid out below were known ahead of time. Bear in mind I am doing this analysis through the prism of basic Elliott Wave analysis - but that is what works for me
1. Trend (or lack of) has been sideways since June 2010 - not a good sign for trade selection
2. Dropping down to a 15-min chart, the price action noted below in highlight was clearly impulsive when compared to the pull-backs
3. While there may have been a bearish candle or some sort of other trigger that gave you a bearish signal, a short was a counter-trend trade - always lower probability trades.
http://www.aspentrading.com/uploaded..._12/gbpcad.png
Just offering my take on it - do with it what you want.