1. DID THE MARKET PROVIDE AN OPPORTUNITY? Yes, the chart pattern show lower high --> We have Short opportunity
2. DID YOU HAVE A PLAN? yes
3. DID YOU ENTER? Yes, I will enter this deal
4. DID YOU APPLY RISK MANAGEMENT? Yes, I will use 2% of my equity for this deal
5. DID YOU USE A STOP LOSS? Yes
6. DID YOU MOVE BREAK EVEN TO OBTAIN A FREE TRADE? Yes, after the price break TP1
7. EXIT PLAN? I will exit 50% at TP1, then move the remain to break-even, what until TP2 or stopped out
8. IF STOPPED OUT THEN RE-ENTRY PLAN ? If the price bound back and eat my stoploss, then I will reentry SHORT if the market show the opportunity again . I will re-entry maximum 2 times.
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Target 1 : Reached 1610, Going to target 2 nicely
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Follow the Plan, i have take out 50% profit at target 1 and move the stoploss to break-event. So I have a free trade now !