Figured I would start a trading journal like Lenart has and this is my first potential trade.
CADJPY Buy Stop @ 82.486
50MA above 100MA and widening
Pullback to 50MA
Pinbar of 50MA with wick close(ish) to the market previous support level
Stop loss just below support
Take Profit at previous high
Risk to reward about 1:3
Will cancel if not triggered within the hour
Well, Yesterday's trade didn't work out but I've been waiting on this pair all day and I like this setup. Unfortunately it's not a Perfect Pinbar as the body is not contained within the previous candles range, so not a valid setup for Sams strategy - probably why it looks unlikely it will trigger.
EURUSD Sell Stop @ 1.1352
50MA below 100MA and widening
Pullback to 50MA
Pinbar (not perfect) off previous support, wick almost touching the 50MA
Stop loss just above pinbar wick
TP at next daily level down (1.3055)
Risk to reward about 1:5
Will cancel if not triggered within the hour
Well that's the end of my first trade - hit SL early hours this morning.
Some China slow down warnings overnight and it looks like we start today in full 'risk off' mode, CHF and JPY both flying.
Buy order got triggered, so I'm in the trade. Fingers and toes all crossed.