fxwaleed
Long

EURUSD Price Action and Fibonacci Ret. Motivation (Updated)

FX:EURUSD   Euro Fx/U.S. Dollar
Following the Bullish Pattern which was formed on fibonacci retracement level with a two consecutive patterns 3Bar Pinocchio and 1Bar Pinocchio Bar

Entry was taken at highest point, SL at lowest, TP initially was at fibonacci retracement level

Trailing Stop was used to optimize risk/reward ratio (when SL got trailed the SL trailed to be 3.9Pips)

TP was adjusted according to new SL to get a 1:10 RR ratio, new TP was 39PIPS

If target was not hit before the end of friday position would be closed as I don't like holding positions over weekend

Hope this trade gave you a good motivation (link to original trade analysis on related ideas tag)

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