EUR/USD 14 March 11

EUR/USD 14 March 11 - Hit!

by Eva
(from Forex Trading Beginner)

Close-up of how the market came down to my limit, making me 21 pips.

Inverted-mallet formation, which I used as my signal to enter the market

My limit is at the very top of the highest point of the last few candles of where the market closed.

Hourly chart at the time I exited

I made 21 pips on this trade, by entering the market with a bearish focus in the first few hours of the US market opening for the week.

I entered on the mallet formation, and just waited out the day while the market came down to my limit.

(I didn't physically wait at my computer, I actually closed down my charts, went shopping, came home, checked on my trade, went about my business and found I'd made 21 pips later in the day.)

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EUR/USD 14 March 11 - Hit!

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