Wednesday, April 20, 2016

Failed: Short Gold

Everything looks great for this trade setup. Gold was going down and there was a nice reversal and I was ready to short it as it is expected to go lower but I think there was some news which caused gold to run up abit and hit my stop loss. Oh well, not everyday is Sunday :)

Trading Plan:
1. Trade with the trend
2. Trade when there is a price action reversal with the trend continuation
3. Place SL on previous high/low candle (Limit my loss)
4. No TP. Let market decide when to exit (Let my profit run)

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