Finally, after 5 losing trades in succession I made some profit. This was a long trade I took on the 12th of October 2012. Here is my entry chart (click to enlarge). As you can see from the chart, there was a smallish pinbar with bullish close that occurred off a very obvious trend line. A break of this pin triggered my buy order. This was also a previous resistance area that should act as support as it had now been broken. My final target was 1.2800, but I was aware of a trouble area before then, (see my exit chart for more about that). Risk was the usual 2%.
Click chart to enlarge.
Here is what happened
The trouble area I was talking about is that pink horizontal line I've drawn on my chart. As you can see, it was in line with previous bar lows, and the trade was likely to have trouble here. Well, it did have trouble going higher, and I ended up taking full profit at this area since it was a Friday. When price first hit this area I moved my stop up to reduce risk. As the day went on, I saw that price was unlikely to close higher than this, so I just took full profit in the end. I made 0.6%.
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