Pin bar + retest on important level 78.600. Trend is short!
Trade closed: stop reached
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Stop Loss.
Comment
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What could I have done better? --------------------------------------- 1. Placing a SL NOT too tight especially for a high volatile pair like this. 2. Filtering out setups like this where patterns (pin bar etc) occurs following several days of sideways price action. This because hovering around a level is suggestive of indecision between buyers and sellers. In other words, it’s a stalemate. January is usually one of the slowest months of the year if not the slowest.
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IMPORTANT (read the angle): the sideways price action is a clear indication that a move in the direction of the preceding trend is extremely likely.