Price didn't respect the higher time frame analysis. And stopped me out @1.51000. 29pips Going to sit on the sidelines for the time being.
Refer to my Daily analysis & compare it with the weekly & monthly. Links provided below. There were more indications of a short than a long. -Lagging span pointing downwards on D,W,M time frames. -Price broke through 26 & 9 day MAs on D,W,M time frames. -Price broke through bottom of cloud on D.
All chimoku indicators on the Daily were strongly towards a short. Thus why i set a tight stoploss. I wanted to see if price still would respect the overall trend based on the higher time frames. I was wrong. Perhaps I could've set a bigger stop loss, regardless I still have a open long postion on GJ up 200 pips. So I was willing to take the chance, with a lower lot position & a tighter stoploss than normal. There is always risk involved in trading. Notes taken on to the next!