First Trade of 2009 - TBT

• I thought I was looking at a ‘Cup and Handle’ setup, but soon after I entered the trade, I doubted myself
• Not until I have entered the trade, I noticed that there were already 2 waves to long-solid up bar (see chart below)
• And I was already prepared for an exit after the 3rd wave
• Since the entry wasn’t ideal, I was particularly cautious
• The down bar that you see below actually went all the below my entry-line

• But as you can see below, prices did go above and beyond my target, of 138% Fib.

• The good news is, this little trade still earned me a bit over 2R
• I’m happy to start the New Year with 2R!