eur/usd was a bit tricky. I considered three ways to approach it.
1. - level tested 3 pips sooner (and made 12 pips reaction) = don't trade anymore.
2. be agressive and trade the level = loss.
I chose the third approach:
3. Wait a little bit higher for the short (because level was already sort of tested). Because there was wider short zone and eur/usd is in strong downtrend - long term view I went short around 5 pips higher. When I was about 8 pips in open profit I moved my SL to BE which was later hit. My 10 pips profit was missed by 0,3 pips.
1. - level tested 3 pips sooner (and made 12 pips reaction) = don't trade anymore.
2. be agressive and trade the level = loss.
I chose the third approach:
3. Wait a little bit higher for the short (because level was already sort of tested). Because there was wider short zone and eur/usd is in strong downtrend - long term view I went short around 5 pips higher. When I was about 8 pips in open profit I moved my SL to BE which was later hit. My 10 pips profit was missed by 0,3 pips.
Firstly the basic rule "If price gets to within about 3 pips and pulls back 8 or more the level is tested" Not a hard and fast rule but trade with caution. Next if you look at the 5min chart you will see that when price first pulled back, for the next 5 or 6 candles it was banging it's head on a round number (1.0450) which is where lazy traders place pending orders and stops. Once price breaks that number it will normally spike and run anything down that is in it's path with the...
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