Another post from the series BEFORE and AFTER.
This is a 15min chart of USD/CAD of this morning.
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| BEFORE - click to enlarge |
There are notes on the picture, but it's same basic principle.
1º) Purple ema (20) is below the Red ema (80)
2º) The pair is in a downtrend, as it presents lower lows and lower highs.
3º) CCI is above 100 but starting to move down.
Stoch is above (or touching) 80 but starting to move down.
Entry: 0.9768
SL: 0.9793 just above D-P (daily pivot)
TP: 0.9729 at D-S2 (daily pivot second support)
This is the "after" chart with TP reached.
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| AFTER - click to enlarge |
USDCAD is still moving down as i write and has reached W-S1 (weekly pivot first support) but i'm out.
SLIPPAGE
I admit i never took slippage too seriously. I know it happens and i know how it can affect a trader, but perhaps i should take the slippage factor into consideration when choosing a broker. Even though my entry was at 0.9768, the order was only kicked in at 0.9757, 11 pips below.
I found this article that explains slippage. http://www.financial-spread-betting.com/Slippage.html
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