krugman25
Education

CADJPY - Bullish Pin Bar / Inside Bar Pin Bar

OANDA:CADJPY   Canadian Dollar / Japanese Yen
CADJPY has broken out of a pin bar / inside bar pin bar pattern. This pattern formed off of key support within a larger bullish trend (defined by higher-highs and higher-lows). I missed the setup and got into the trade about 10 pips further than I could have. That weakened the R:R potential of this trade, with the trade having about 1.25 R:R.
Trade closed: target reached: Closed the trade last night after price came within 1 pip of my stop loss. A major resistance area was in the 83.90-84 region where this level had served as both resistance and support numerous times. I manually closed the trade at 83.83 after some bearish price action had begun forming off of a resistance trend line. I used the 1 minute time frame to analyze the bearish reversal potential.
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