Channel High: 1.2962
Channel Low: 1.2941
Channel Width: 21
Profit Target: 1.2983
Ecnomic Indicator: None
Time of Release: N.A
Volume @ Time of Release: N.A
Profit Given: YES
Setup Checklist:
Breakout of Channel before Time of Release: NO
Volume Breakout of Channel before Time of Release: YES
Economic Indicator Votality Measure: 0
Another painful lesson learnt from the FOREX FUTURES market today. Traded both behind and ahead of my system. System gave entry @ 63 but decided not to go in. When the market reversed, i entered @ 49 instead of the bottom channel. Market thereafter faced strong resistance @ 46,rebounded and rallied. Got cut loss @ 77. Slippage of 5 points because of IB's problem with covering STOPS. Took a long position @ 77 and i was kinda reminded of what happened before when i flipped my positions. I often end up with double losses. Exited with $6.50 profits. Thereafter, the market rallied to 1.2992. What a day....
