Pinbar on Euro nets us PROFIT!

The below chart shows what happened to the Euro (or EURUSD) forex pair on Friday.. the price action had plumetted shortly after the pin bar (as highlighted in blue).

I was actually a day late with this trade but the price was pretty much as the same level of the close of the Wednesday bar so I shorted it. My initial target was the previous support level 12885.

You can see that the price hit that yielding me 50 pips but it also continued to fall.. there was another 50 pips in the move.

Make Me Some Money - Euro short

You can never extract the maximum amount on a trade and I’m looking for ways to be able to capitalise on this. One thought is to split each trades I have into two lots.. the first lot, I close in the same way that I’m used to. The second lot I close at either double the profit of the first trade or with some sort of trailing stop.

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Related posts:

  1. GBPJPY trade update
  2. Trading a Failed Breakout on Euro
  3. The Euro off a Resistance Line and a Pin Bar Pattern – Recipe for a Sell trade
  4. My 20 pip profit today – GBPUSD and EURUSD
  5. It’s sooo hard not to take a profit when you’re trading!

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Category: Forex trading, Trading