Results from March 13th EUR/USD Trade

I’ve been away from my charts for around 24 hours, so haven’t been able to post an update on this trade.

Since I wasn’t going to be able to monitor the trade closely I left it with a 70 pip automatic takeprofit, which was hit a few hours after the trade opened.

120315-eurusdh4-1

I chose a 70 pip target because the next S&R and trendline were just too far away, and since I needed this trade to be 100% automated it was too risky to set a TP that far down. I chose 70 pips because that was my stoploss, and I never want to exit a trade with less than a 1:1 Risk:Reward ratio (unless I absolutely have to).

To be honest if I was monitoring this trade I probably wouldn’t have gotten out before the reversal (I would have closed it at break-even), so it’s a good thing I wasn’t home!

As you can see we also had a new reversal signal below, but the price never fell so it didn’t turn into a trade.

120315-eurusdh4-2

If you still have a pending order for this trade on your charts you need to remove it, because it’s no longer a valid signal.

Phil

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