Double Pitchfork Trading - EURUSD Long setup

This level seems to be holding as the swing low. As usual, profit targets are the major lines of the pitchforks and SL will be trailed as targets are reached.

Note: The bright green line is a trend line that is still showing some support/resistance. This may limit the position's profitability.

Trade active

Entry: 1.13746
Initial SL: 1.13542
Target 1: 1.1395

Note

Price has fallen a bit lower since the trade was opened and the pitchforks have been adjusted.

Note: SL remains at its initial level but profit target 1 may be reached a little lower than originally forcasted. See the linked idea "Double Pitchfork Trading EURUSD Long Setup - Pitchfork Adjustment" for the updated chart.

Note

Holding this overnight (for me) and through some news. So, I'm adding a 20 pip trailing stop to this position to attempt to protect and profits that may be gained.

Trade closed: stop reached

nboone

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nboone