Monday, December 12, 2011
TITZ:2 GBP AUD
Kind of a coin toss, I saw the 15m bounce off the 200, it was a 23% retracement and in the direction of the shorter trend (Bullish), I couldn't find any divergence and was leaning to Sell until I figured that would be counter-trend.
I saw 25pips looked to be the harmonic number on the 1 Hour.
I went in with .03 lots with the idea of scaling out once I had $5 profit and managed to take $1.80 and then put a trailing stop of 20 on it.
I didn't put a TP but was looking at the previous (yesterday's) peak as a Target. I walked away and missed the top.
When does "If not monitoring, place 1:1" apply?
I put the stop at 45 points, a little less than TITZ:1 which was 50 ish.
The 2nd 2/3rds closed out 1 pip less than the 1st 1/3rd.
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