Hi Everyone:
I did not get a chance to post this earlier becasue my mornings are normally hectic with the family schedule.
This trade was taken based on the following:
1. It was along with the bigger trend- LONG.
2. There was a morning star pattern. The spacing is not great, but I have been told that in Forex, if it is only a pip or two difference, it is okay because of the volatility of the market.
3. I was not concerned about the 4 hrs bullish TL because of the size of the third candle of the morning star pattern. I have been told that the deeper the third candle penetrates the size of the first candle, the better.
I placed 2 standard lots on this trade and is currently up over $2,400 USD or over 100 pips. The red line you see is the trailing stop that I have placed to let the trade run it's course.
The arrow points to the morning star pattern.
Any comments will be appreciated.
I did not get a chance to post this earlier becasue my mornings are normally hectic with the family schedule.
This trade was taken based on the following:
1. It was along with the bigger trend- LONG.
2. There was a morning star pattern. The spacing is not great, but I have been told that in Forex, if it is only a pip or two difference, it is okay because of the volatility of the market.
3. I was not concerned about the 4 hrs bullish TL because of the size of the third candle of the morning star pattern. I have been told that the deeper the third candle penetrates the size of the first candle, the better.
I placed 2 standard lots on this trade and is currently up over $2,400 USD or over 100 pips. The red line you see is the trailing stop that I have placed to let the trade run it's course.
The arrow points to the morning star pattern.
Any comments will be appreciated.