4H chart below shows my last two trades, both losers. The good news is the second losing trade was resulted in only a small $ loss because I proactively trimmed my holding as the trade moved against me and became invalid. It ended up being only .007 of my balance. The bad news is the first trade resulted in a more significant $ loss, more than I typically allow when trading the exotic pairs. The loss ended up equaling .03 of my account balance. The very bearish price action (reversal) suckered me in each time. I elected not to trade the third pinbar on Friday 8/17 because it was a Friday and I didn't want to carry the trade over the weekend after the last two trades. I also didn't have the adequate time to fully evaluate the trade on Friday, which also weighed in on the decision to stay on the side lines. In hindsight, that would have been the winning trade.
I am now taking the opposite direction. Pinbar on the daily charts, bullish.
Long @ 14.21997; original SL @ 13.93955. At entry, my key areas to consider taking profits (all or some) was first at 14.5755 area, 2nd at 14.757, and stretch possibility at 14.86 area. I'll be adjusting my SL to lock in profits.
1M:
1W:
1D:
4H:
1H:
I am now taking the opposite direction. Pinbar on the daily charts, bullish.
Long @ 14.21997; original SL @ 13.93955. At entry, my key areas to consider taking profits (all or some) was first at 14.5755 area, 2nd at 14.757, and stretch possibility at 14.86 area. I'll be adjusting my SL to lock in profits.
1M:
1W:
1D:
4H:
1H:
Trade closed: target reached:
