Image: Oanda
TRADE
Date: 04-Sep-2014
Entry: Sell Stop 1.3005
Reason for Trade/Setup: (There was a big sell down prior 2000hr. It should due to news.) Switched to 1 min chart for set up as the 15 min chart will not be able to reflect trade set up due to the large sell down prior 2000hr. Based on ichimoku charting and the overall price action for EURUSD, it was bearish. At the time of the order, price action was drifting lower and below the ichimoku cloud. Chikou span had crossed below the cloud too. Placed a sell stop below the recent low taken at 2109hr (1.3009 level).
Initial Stop: 1.3035
Initial Target: 1.2915
RESULT
Outcome: Price action drifted lower, in a very gradual manner. Till Tenkan-sen crossed above kijun-sen for a short while before crossing below kijun-sen again.
Exit: Time to sleep.
Profit/Loss: + 59 pips
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