I placed a EURUSD trade early yesterday and after dropping to a support level, it started raising back up to a profitable trade. Because I wished to enter another trade today, I simply set this one at break-even after being about 10 pips up. I then looked for other opportunities and noticed that USDCHF had a nice short trade opportunity. However, it looked as though the support level was going to be tested and wasn't sure if there was confirmation. Just for testing purposes of my indicators, I saw there were three positives from my methods: a Fib level made a nice resistance, the candles made a nice bearish movement with an engulfing candle, and my indicators were giving off signs that there was a bearish divergence.
Even though I was a little worried about the support level that was to be tested being close, I decided to give this one a try and it ended up going in my favor this time. I currently have two trades at a no loss situation because of my 1:1 RR trailing stop. Another benefit that I didn't check was that there was no news to be expected in interfering with my trades, so that should have been another factor to take into.
