DislikedLet's take a look at the European session last night.
During the Asian session it bounced around between the pivot point and .4750.
There was a significat bullish candle that broke through the PP.
That's our trigger to sell.
It retraced a few PIPS and began it's decent right to our profit target. (.4700) Why .4700 and not S1. The first signicant take profit target will always be my exit. If S1 was at .4705 then that's when I would take profit.
Additionally I will move be 15 pip stop once price moves 15 pips in my direction. Usually to a 5 PIP stop. If price suddenly retraces before I can get out a 5 PIP loss is something I can live with.Ignored
This left me a little confused.
Are you talking about Jan.3 or Jan.4?
Last night (Jan.4) sounds like what you're talking about other that the significant bullish candle breaking through the pivot. The candle that broke the pivot isn't shown on the chart you posted. It only rose a few pips above the pivot.
Prior to that price had fallen below the pivot to S1.
Jan.3 doesn't look like what you are speaking of.
The big bullish candle didn't break the pivot, it began above the pivot.
Also, if price is above the pivot, why would you go short?
I thought one of your rules was to but above the pivot and sell below it.