Short EURGBP with the trend on bearish pin bar

15 mar 2015

UPDATE 17/3:
1) Stopped out = -1R
2) Set the orders after 16/3 candle surpassed the sell stop, never activated - 0R

Reasons for the trade:
- downtrend
- bearish pin bar
- trendline unsuccessfully tested
- 9-day MA touched
- .618 retrace of the most recent drop

Two entries:

1) sell limit half of pin bar
- s/l over 10/3 & 13/3 candles, within 6/3 price range
- t/p close to most recent lows at 2.5 r/r

2) sell stop below the pin bar just under .71
- s/l over 10/3 & 13/3 candles, within 6/3 price range
- t/p close at 2 r/r

Both trades have the same amount risked. Trade with the limit entry is approximately twice as big as the stop trade.