Wednesday, April 25, 2012

25th April 2012 - loss on XAUUSD

This trade on gold didn't work out. A pinbar formed around support so I decided to go long. I saw a potential resistance level shortly above the pinbar so decided to place my entry some distance away. My SL was locked below this resistance level, so if resistance broke, it should turn into support and help repulse price from my SL.

My entry was triggered but price reversed shortly after, taking out my SL. My trade is graphed below.

Damage to my account was minimal.

I spent most of today mechanically backtesting inside bars (with very positive results), and will post my results later tonight or tomorrow after cleaning up my results.

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