Post Trade Analysis on GBPAUD

I was bearish on GBPAUD after the H4 box expansion, thus tweeted this


The trade was in my favour initially, however, after AUD job data, it went against me.

I have 3 batches of this trade and decided that I should just cut losses for all. 1 batch exited in break even; the other 2 had and average of 60 pips loss on protected stop loss.

Why did I decided to square all positions?

This position was initiated because there was a bearish expansion on 2 H4 boxes. Support was clear at bottom of channel.


ED channel as TP objective

I have noted a support near to low of channel (marked green). However, I didn’t take into account F6 as a support, which was 30 pips away from the historical support.


Tweet and F6 level now providing support


In the first attempt to short, I was stopped out at a loss. In my second attempt, this position was winning, however, due to not being able to spot the F6 support, I had exited some at break even some at loss.


Bullish 1234 seen


What was the deciding factor for me to cut all positions.

The presence of bullish 1234 structure. There could be a chance that the red 1234 could be true and thus the blue 1234 is the right bottom (currently suspect a double bottom)

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