Pinbar entry on AUDUSD nets 50 pips

make me some money audusd

So when the markets opened last night, I saw that there was a bullish pin bar. It was very apparently and had a very long tail which signifies strong buying. I tend to trade with the trend using the moving average line to ensure that I only go long when the price action is above the line and short when the price action below. However, when you get such a strong signal I couldn’t just leave it.

So I was rewarded this morning it started going up…  my initial trade was long at 10354 with a 75 pip stop and a 75 pip first target. I closed out at 50 pips though when the price action was dwindling around the 10400 mark… however, if you looked at the price now, you would see that I should actually still be in the long trade.

I know as a trader there is still work to be done.. I tend to close way to early with trades… something to work on. Just something to bear in mind if you’re following my trades.

I also mentioned on one my Tweets that I thought that the market would go up today and boy.. there was quite a rally. I’ve just realised that one of my other weaknesses is that I find it hard to have more than one trade open at a time! Something else I need to work on!

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Category: Forex trader, Forex trading, Make Me Some Money Ideas, Trading