This is the head and shoulders I was talking about. I expect it to fail, otherwise we may go very high, which I really doubt, but who knows?!
I need to change a broker! My stops are triggered if the price gets a little close, but my limit orders have to be exceeded by a lot to be triggered, it is a rip off this oanda chit! Missed my short by very little, I hope it will come back. My target is reached at 1.2565, for a profit of 50pipsx2 ($500). 24 trades, Profit: 931 losses: 213 pips P/L: 718 pips 17 winners, 7 losers. Total challenge P/L: $1310. Starting from now on I will only post my trades once I am in.
First VERY WELL done to be positive. Second regarding Oanda : did you check the spreads when entering your limit orders? as well as the time of executions ( the speads varies during the day).
Thanks smallStops. Yes actually they trigger the stops on the lower/higher price, but for limit orders I have seen it again and again if you want to sell, they wait for the bid (their bid) to go a lot higher than your order to fill it. They cheat, it is as simple as that! Market orders are great.
Short one position at 1.2570; missed the other short by 1 pip, again for the fourth time!! may come back again before going down, steep downtrends need to exhaust most people before plunging. If it does not come back I will short after a good confirmation of the reversal (trading bellow 1.2510 would be a descent, not the best, but descent confirmation).
you might want to record one trading session and send it to them : who knows if one of their staff is getting some unauthorized "bonus" by adding pips on the spread!!!lol
Off records: covered one position at 1.2533 to reenter at 1.2555, a stupid scalp! won't count this one. Reentered at 1.2548.
We may push one more time higher to 1.2602 to shoot for all stops above 1.26 before we go down. Don't be surprised if tomorrow it goes higher. It should turn lower after that otherwise the uptrend has more juice. I'll put all my protective stops to 1.2635. I am tempted to close my trades here and wait for the price to get up but I will resist that urge. Exceptionally I may add a third position if it gets to 1.2615.