Due to work commitments, I haven't been able to trade actively for the past 2 days. But I still managed to catch this short term trend reversal on the EUR/USD on Friday.
Disclaimer: This is purely for sharing purpose only, not a trading advice or instruction.
Disclaimer: This is purely for sharing purpose only, not a trading advice or instruction.
Trade: Trend reversal from down to up, higher peak and
higher trough. Buy after confirmation of upward signal. Averaged down on next
bar. Profit taken at average of 7.5 pips.
Review: After a gradual downward movement on the 5min chart,
trend reversal is signalled by higher peak. Took position after a 3 bar upward
confirmation. First position was a
little high, thus averaged down on the next bar. Quick exit within 5 bars at previous symmetrical resistance, in
case it turns into a sideway movement.
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