This is a continuation trade in a strong down trend. We have an inside bar broken by the following bar that first broke the high where we see the top blue line and then the body closed below that same top blue line. From here we want to see a strong push down if price breaks the bottom blue line. RR for trade is 1:3 with a breakeven at +20 pips if price reaches that area. This trade will be exited immediately if the 4H bar suddenly changes direction before closing.
Trade active:
There's a bit of a pause in market action, waiting for London open, can't be the great Fed Decision pause yet, but one never knows.
Trade closed: stop reached:
Unless you gave it more room to work out, this trade would be - 1R. And on to the next!
Comment:
Ha! Actually, I'm still in this trade to the downside. The top of the signal candle where I went short on this chart says .70263 but on my platform the top of the signal candle (high of the candle) is .70315. That's good for me, although curious.
Trade closed: stop reached:
Took some time but definitely out now.