Today was not an easy day to find a trade…unlike last week.
The EURUSD completed a 3 candle reversal and we were willing to risk 12 pips for a potential 48 to our daily target. At this time of day, I would have been willing to take a 2:1 R/R. Price climbed higher then ran into a price barrier on our 4hr chart and was not able to get above it. As price lost momentum at this level, we gave it some wiggle room… tightened our profit stop and the market took us out for a modest gain.
On Wednesday there are a number of major economic news releases for the U.S. followed by crude oil inventories 2 hours later.
Good luck with your trading!
