GBPAUD lesson learned
This is a typical example of a far too aggressive trade that got stopped out but actually captured the right market move.
After a significant 8 EMA extension on the 4h and 1h timeframe it was clear that sooner or later a mean reversion will take place.
This was an actual trade. As can be seen the stop level was NOT place ABOVE the previous highest wick but slightly below.
The key lesson learned:
- Give the trade enough room to breath especially in situations of climactic moves
- Sacrifice RR for higher probability set set ups.
After a significant 8 EMA extension on the 4h and 1h timeframe it was clear that sooner or later a mean reversion will take place.
This was an actual trade. As can be seen the stop level was NOT place ABOVE the previous highest wick but slightly below.
The key lesson learned:
- Give the trade enough room to breath especially in situations of climactic moves
- Sacrifice RR for higher probability set set ups.
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