I am going Long on EURZAR after seeing a bullish pin bar formed on the daily chart at support. Targeting previous resistance.
Trade closed: stop reached
I should have placed a buy stop above the bullish pin bar on this trade instead of entering at market so I took a loss but with pin bars like this, especially on the daily time frame price should not go lower than the candles shadow. If it does then you are just hoping it goes back up and now it becomes gambling. A real good price action symbol will not let price go passed it, if it does then price is not moving the way you need to so just close the trade and take the loss and lose early instead of holding on to a big loser. I know it sucks to accept that you're wrong but you're not, it's just that price and especially some pairs are dicks.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.