This is another trade based on the 3 time frame strategy (explained here). Here is my entry chart (click to enlarge). Risk was 0.5% off account, aiming for 3:1 RR (1.5% gain).
Now the plan on these type of trades is to move stop to break even once you hit 1:1 RR. In this case price didn't quite hit 1:1 but was close to reaching it so I decided to move my stop to break even anyway. Now the spread on this pair has been acting like an asshole. One second it's 4.5pips, the next it's 10 pips. Price went up and I was taken out. Spreads must've widened because looking at the chart I should still be in.
In any case it's not a surprise because most trades based on this strategy end up break even. According to my back testing the win rate is around 35-40%.
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