Sold EUR/USD at 1.13733 price. If you are an experienced price action trader, you can clearly notice a sell signal here with double top forming a pinbar and stop hunting those intraday retail traders, thus after stop hunting we have seen a clear bearish momentum downside signalling us that the sellers are getting into the market and stops with breakevens have been hit. Now, it is Asian session going on, but soon London session will begin and we might expect another setup after a stop hunt of the session with much tight stop loss. London reversal can be a good opportunity to start looking for another potential signal to downside so lets wait and see! Currently the position is running in profit but anything else can happen so lets wait and observe how the price reacts. Remember, even though you are a professional trader who can read the charts with naked eyes easily, you can still be wrong even if perfect setups are showing up. Thats why I risked only 2% on this trade and if I'm wrong, the worst case scenario i will lose only 2% and keep going. Risk reward is 1 :2,5
Trade closed: target reached:
Worked out exactly as i explained in detail and easily hit our target! That's why price action and experience are the best in trading where 95% people fail. Stay focused and hungry traders !!!
Comment:
By the way I am expecting the EUR/USD to fall further if we see a correction to the upside, then i will be looking forward for another short entry with a decent risk/reward. Stay tuned.