Back in short at 5688. Took half off at 30 pips and moved my stop loss to BE +5 pips to make sure earlier loss will be mitigated. Next take profit is daily low (and near the ADR value) of 56365.
This is a New York open OTE retrace with SMT and USDx divergence. Also Type II divergence could be found on the 15 minute chart. A/D divergence on the 1 hour chart but it was difficult to find that before the trade.
Only 1% risk based on cutting my risk after a loss. I consistently make a loss for my first trade of the week but I am lessening the impact and am mitigating the losses more quickly.
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