Shorted into the most bullish candle of the day, and with the top of the range (and buy stops) so close it seemed a blowout was on the cards, but somehow price found resistance around 1.4080.
Entry time was around 2am Thursday. The US session was getting old and I was tired after a long week...not a great time to be making decisions. I was concerned that we were range bound and had not hit ATR , but on balance decided to enter for the reasons outlined on the chart.
Quite a stressful trade due to the proximity of the range, and the fear the top might blow. I watched the trade way too much, and must remember that watching won't change the outcome.
Stops were placed well through the top of the range to avoid potential fake-out, which meant RR was only 0.7. First profit was taken at +36 pips to reduce risk to 170 bps, then balance was closed on post-data momentum move around 3SMA low at +64 and +78 pips. I had intended to leave a 1/3rd runner, but decided to book it instead. I am finding it tough to leave runners on for fear of giving back profit, and must overcome this fear in order to leave myself open to the occasional home run.
