EURUSD Price Action and Fibonacci Ret. Motivation (Updated)
Following the Bullish Pattern which was formed on fibonacci retracement level with a two consecutive patterns 3Bar Pinocchio and 1Bar Pinocchio Bar
Entry was taken at highest point, SL at lowest, TP initially was at fibonacci retracement level
Trailing Stop was used to optimize risk/reward ratio (when SL got trailed the SL trailed to be 3.9Pips)
TP was adjusted according to new SL to get a 1:10 RR ratio, new TP was 39PIPS
If target was not hit before the end of friday position would be closed as I don't like holding positions over weekend
Hope this trade gave you a good motivation (link to original trade analysis on related ideas tag)
Follow for more motivation and ideas
Entry was taken at highest point, SL at lowest, TP initially was at fibonacci retracement level
Trailing Stop was used to optimize risk/reward ratio (when SL got trailed the SL trailed to be 3.9Pips)
TP was adjusted according to new SL to get a 1:10 RR ratio, new TP was 39PIPS
If target was not hit before the end of friday position would be closed as I don't like holding positions over weekend
Hope this trade gave you a good motivation (link to original trade analysis on related ideas tag)
Follow for more motivation and ideas
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