Wednesday, February 12, 2014

Will the bears take over Audchf?

I discussed a pin bar forming on a falling counter trendline which has been re-established and I percieved strong . I took the trade and my first profit target was hit on 50% of my account, I reduced my stop loss to 50% and the other 50% of my account was hit giving me a little profit of 31pips in total. 

Price has since moved up and broke the pin bar to retest the falling trendline I discussed. A doji was formed today and I will wait till tommorow expecting a good bearish candle to confirm before locating a good level to sell. If price broke the trendline upward with a full bullish candle, I will have to come back another day

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