On 29/02/16 morning, I took a short trade on CADJPY after seeing a potential pin bar developing. I got in a good entry, at the lowest point of the pin bar. But if I see the chart now, I wouldnt want to short it. I would want to buy it. When I preparing to write this post. I started drawing the trend line and see that it has reversed its trend. In the daily chart overall its a down trend but the trend line shows that it has broken out of its trend line and has become a uptrend. Lucky this time it break even :) because I got a good entry and sitting on +100 pips before it suddenly reversed and breakeven :(
Next time I better draw my trend line before acting!
Trading Plan:
1. Trade with the trend
2. Trade when there is a price action reversal ...