So here’s one I alerted through the trade alert service (totally free, sign up now! – Shameless Plug) yesterday evening as I was looking at it on the live charts.
Basically, the situation was this: I had come off the back of a nice EURUSD profit target hit, and was pretty happy to see a trade that I didn’t think would amount to much log a nice profit. I was all set to settle in for what looked like a pretty quiet period in the pair, as markets consolidated and (or so I thought) the pair topped out and I could get back to my bearish fundamental Euro bias.
A pin bar appears, I get in because my strategy tells me I have to (god forbid I go against these rules) and, once again, settle in with the expectations that price is going to take me out for a frustrating, but bearable loss. We’re now circa midway through the session, and I couldn’t have been more wrong.
I’ve got a target at 1.108 and price is currently around 25-30 pips off target.
We may not reach, but we’re close, and if my previous Euro trade is anything to go by, price might flirt with the target, retrace, and come back with a vengeance a couple sessions down the line.
Who knows. Bottom line is I’m in, I’m around 80 pips up on my entry, and there’s not too far to go before my target strikes.
Let’s see how things play out.