so Dollar Index has been established to be strong.
looking at majors to short, and EURUSD , NZDUSD , GBPUSD will be the pairs to hit
I did not short off the bearish engulfing @ 2013 52 weeks level
however by friday wr4B has been confirmed so next week looking to short on retracement.
this is not the best of SL that I will expect for my trades. It was a randomly placed SL which had little tactical significance. I said so as the placement of SL only limited $$ risk, but it did not really do the job of cutting the position in the event of wrongful direction, which in this case price was still in the intended correct direction.
Therefore, I would say that this was a losing trade due to volatility/wrongful placement of SL rather than wrong direction.
I must look to weed out this type of trading mistakes. Although I had placed SL above the w1 res, I had not considered the fib5 at that point of time.
Part of the reason for this poorly placed SL was due to a poorer price which I had entered on a Wednedsay night. If I had entered on a better price, my SL would have been better.
one mistake will roll on to create another mistake. I must be vigilant to prevent any mistake from happening in the first place.