Here is another trade setup in EUR/USD
My previous trade in this pair was a loser . It came within a few pips of my profit but never hit my take profit.
Yes i could have taken profit a few pips below my target but thats not in my rule book
Only follow whats in your rule book and do not change because it will make you think its ok to change your rules.
For this short trade i received the signal at 4am CST to go short
The vertical line represents my short signal
I then drew a fib from most recent high to most recent low before the vertical line on the 1 hr chart
I will re adjust my fib if it makes s a new low
My previous trade in this pair was a loser . It came within a few pips of my profit but never hit my take profit.
Yes i could have taken profit a few pips below my target but thats not in my rule book
Only follow whats in your rule book and do not change because it will make you think its ok to change your rules.
For this short trade i received the signal at 4am CST to go short
The vertical line represents my short signal
I then drew a fib from most recent high to most recent low before the vertical line on the 1 hr chart
I will re adjust my fib if it makes s a new low