Hmm, same thing happened to me today. I had a sell at 15233 with a 40 pip stop and a 60 pip target... the market knew where my stop was and hit it... then promptly fell and hit what would have been my target of 60 pips.. well what can I do? Annoying that it is, that's what happen.. hopefully it won't happen tomorrow!
April 7, 2010 Comments Off on Caught out again – GBPUSD short Full Story
Trading is meant to frustrate.. this morning I had a short trade on and it hit my stop and promptly reversed which would then have hit my target for 30 pips. There are times when a trader thinks that the markets are out to get him (or her) and he (or she) is right!! :) The market knows exactly where the stops are and they will hit them prior to moving in the 'correct' direction. So a loss today.. annoying but that's something you have to deal with if you trade
You can see the triple top set up on the 5 minute Dow with the Pivot being the resistance. A good point to short so had a short order at 10887 and rode it down to 10855. My original target was 10840 but hey, I'm still in profit.
