Our second setup comes from the NZDUSD. Looking at the hourly chart what we may see is that price bounced from a key resistance level (sliding parallel of median line, and after breaking below the short term uptrend is now in a correctio, pulling back. MACD bearish divergence adds to our analysis on going short.
DISCLAIMER: You are solely responsible for your trading. The possibility exists that you could sustain a loss in excess of your initial investment.
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We didn't get filled in this one, and the price dropped as expected. This trade is no more valid no matter what happens next. One unit returns to the initial capital.
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This was a great example on how important is to consider your trading decisions based on market structure. Since we didn't filled in our initial entry order and missed a drop to the down, structure changed and we cancelled the order. Price reached our stoploss when we we out of this trade..!