Dislikedhi Kean, nice trade mate. i was in this but not from the daily pin. i have also been stopped by my TSL when price bounced off the 1.6300 level with about the same returns.
firstly i was wondering where you had your SL when you entered?
my question to you would be why did you close?? was there pa to make you close? did it hit your TP? did you concider leaving a part of your position open? bearing in mind the ave daily range of this pair atm is about 250 pips
and you have taken a daily trade setup do you think it should be still open or are you happy...Ignored
As this trade was not an A+ pinbar IMO, I decided to watch it carefully and try to get my stop loss to break even ASAP. I am still experimenting with how to trade pinbars in traffic. My stop loss was originally placed just above the left eye at 1.6487 (130 pips away). I trailed it quite quickly to being -60 pips away. I decided that I wanted to be off it before it got down to the 1.62 PPZ level and noticed that the +100 pips level was just above this area and also some previous bar lows. So, that was my thinking. It dropped down and hit my Take Profit level and so far, has done exactly what I expected it to do (now watch it fall through the floor LOL). However, I am a fairly new trader, still demoing, and I am at the stage where I am trying to find my own comfort zone. I have not yet got into leaving half positions on but it is something that I am going to look at in the near future. Looking back my R:R was not perfect… 130 pips risk to 100 pips reward but overall, I am happy with the result, whatever it now does. Thanks for your comments, this thread is really helping me progress at a good rate.
Kean