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....
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.
Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out