MrVolcano
Long

FX00081 - EURUSD - break of resistance - 4h pinbar

FX:EURUSD   Euro/U.S. Dollar
EURUSD             has now broken through resistance at 1.143. Momentum looks strong enough to keep pushing higher, possibly to 1.1700 but I have a feeling that some traders may take profits before then so I'm going to set a TP1 at 1.1600.

SL is tucked below the pin bar , 8EMA and previous support level at 1.1430.

I've used the 4hr chart for entry....
snapshot
Trade closed: target reached: Read this one beautifully. Sellers did indeed come in around 1.1600 pushing price lower and creating a bearish pinbar.

My target was 1.1600 so I banked a nice 2R profit.
On reflection, this would have been a good opportunity to go short also on the bearish pinbar.
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