Lately opened positions bring more profits, I hope we can find another setups:
The pair broke up, negating the pin bar sell signal and my forecast of price behavior proved to be correct. However, with high risk to reward potential, it is worth trying to trade, because big profits often bring signals to which we do not have much confidence.
On Cable there was a breakout from Inside Bar, but it is not convincing, and what more it stopped on support. Therefore, I do not open any position and wait what will happen with the price further.
The pair is testing strong support. It is worth looking at the behavior of the price because there may be both a signal to play long in line with the long-term trend and short in line with the trend of recent weeks.
To trade short the candle needs to be shut down under support and preferably below the low of candle wick from August 11th. Then you can switch the chart to H4 and look for a re-test from the bottom of the previous support, which should turn into resistance.
To trade long a buy signal on a daily chart above support would be enough.
The expected strike from the Inside Bar setup occurred, but the Stop Loss needed to play this position is too big and I will not go into it.
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