ewilliams
Short

EUR/USD TRADE 13/06/2018

FX:EURUSD   Euro / U.S. Dollar
Another fib - rejection trade.

I've Drawn a fib from the previous highs around the 1.2000 level

price made a low around the 1.5000 level, pulled back and has now rejected the 61 level of the fib with 4 daily candles.

I'm expecting price to fall from here and make a new low at the 1.4500 level

currently in this trade and just waiting.........
Trade closed: stop reached: I was stopped out of this trade.

Lesson learnt: Place stop in a better place.

Although I thought my stop was placed well but looking back at the trade i could have placed my stop above the prior high. Even though price hit this level anyway I would have felt better about the trade.

Even placing the stop about the 78 fib region would have been the best place to put the stop.

I need to make sure that I look at the structure of the trade set up and place the stop in an area that means sense structurally.
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