I had done the analysis as per previous day Daily Analysis : EUR/USD - 9 Jan 2012. When I looked at the market at around 1:00 PM IST, the RSI has reached about 70. Since the market is in downtrend I decided to short without waiting for any other confirmation at 1.2734 with stop loss at 1.2760. The price kept on rising to stop me out for loss of 26 pips.
Profit/Loss : -26 pips
Learning: I should have waited for confirmation before entering the trade.
Profit/Loss : -26 pips
Learning: I should have waited for confirmation before entering the trade.
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