DislikedI'm short from 1.2176 sl: 1.2265. I took the position Friday morning around 8AM EST. I wanted to trail the stop, but fell asleep because of whacky sleeping patterns last week. Luckily price didnt suddenly reverse on me through my stop again. I'm thinking about moving the s/l asap to 1.2170, about breakeven. I'll cover on another bounce around 1.1205 area, but I'd like to leave the trade open and hopefully make some decent gains on a break below 1.2060 area. I wish I wouldve gotten in earlier, but have been focusing on the GBPUSD and USDCHF lately....Ignored
Tbh you should NEVER your trades open over the weekend. Fibs and SR really don't work as well. They r low percentage trades which is why most people get stopped out or stuff like that. If you don't see a trade that fits YOUR patterns, then don't take the trade. From experience in teaching Forex to my students, they in the past have made the same mistakes which is fine but now they know better. Just remember to not leave your trades open over the weekend good luck trading.