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Safe trade
The top of the pin was:
1) Off of a fib pull target
2) Beautifully formed
3) Had room to run if broken to the downside
4) At a swing high
5) Fully engulfed the previous week range
I like these. So I traded for plus 75 pips. Easiest trade in the book in my opinion.
Leaning hard toward 132.65 before price gets back down in that 127 area. Maybe some good price action after the gap close that could present a decent r/r trade for the ride up. H1 is the lowest timeframe chart I can interpret right now. Gap up isnt good for my trade methodology
Good start to the week. +382 pips
Some luck involved I'd say though. I'm staying away from these long candle trades from now on. They are going to cause me heath issues.
Zero drawdown in this trade. Total fluke and luck I know but the fib didn't lie to me and gave up 30 pips to the upside. Take Profit 22 hrs after the draw and the actual trade lasted about 5 hrs.
Not much but a lesson and a little green on the screen to start this fine Friday morning. Also remember to trade off of pins that are in context. This pin was pointing lower at a high swing. A pin pointing lower at a low swing doesn't do anything for me.
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