Same Setup but a Loss
June 23, 2006 by Trader Rich
I'll explain later but I want to bring up the subject of entering and profitable exiting based on a particular setup earlier in the week and then entering the same setup when it shows up AGAIN at the end of the week. This happened with my USD/CHF setup that I profited 92 pips from 2 days ago. I entered short again last night and was stopped out (-25 pips or so.) Look at the chart. We have broken out above of the bearish flag.
I'll wait for the pullback and maybe go long next week.
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