September 29, 2020 |+227 Pips (+7.9%) | Short Term Trading

#1
The last few days I tried to force trades and as result I did not make any progress. Today I came back to my desk with a fresh mindset and waited patiently for a solid setup.

EURUSD made lower lows since yesterday evening and the bear rally in the morning failed. About 09:30 the price pushed higher, came back and I went long as soon momentum came in. As the momentum went stronger, I added size and started to take partial profits until the momentum started to slow down.

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profx_7_29092020_m30.png (52.04 KiB) Viewed 4571 times

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profx_7_29092020_m1.png (47.16 KiB) Viewed 4570 times


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profx_7_29092020_forexfactory.png (4.39 KiB) Viewed 4571 times

Tip: When the momentum is strong and you already have a starter position, you can use the gains as padding and add more size. But be careful, trades with large size can be tricky on the mind. In case they go against you, close them immediately (no second thoughts and no "let's see what it is doing").

Did anybody else trade this setup?

Alexander