Trade 3

This is my Third trade in the monthly loot series.

Trigger Signal: resistance met and held.formation of evening star reversal pattern on daily charts.MACD and stochastics indicate downtrend in motion on both 4hourly and daily charts
Trade direction: short

Stop loss:1.3263
Target price for exit:1.2998 and 1.2804

Distance between stop and target: 459

Distance between stop and target/ 4: 114

Potential loss(risk):  £50

Actual Entry point: 1.3179
Trade size (£ per point) :0.60pence

Comment: Trade went well initially and target of 12998 was met.i decided to leave 70 pips on the table to gain a further 190 pips.Overnight the rates seesawed and i had a feelingt to close out my trade as the BOE minutes was coming out the next day.I left the trade on and at 9.30am the trade went against me and closed out my position.Total profit made £86.
Lesson learnt : take of trades before big economic anouncements.

Verdict: Loot.