Reversing position on USDCHF after stronger than expected NFEC
I closed out my short position on this currency pair at break even. It looks like it will continue higher making a leg up to the next resistance area . I will enter on a retrace of the pinbar . This way I will enter right above support and hopefully exit right before resistance for an take profit of 2R. I will exit at a loss if price falls below the next support area .
This is what I enter in my trading journal:
Date Pair Direction Trade Trend Level Signal Entry
2019-05-01 USDCHF Long With trend Up Horizontal Support Pin Bar retrace