EURUSD 5 minute chart


Good morning Pipsters. This mornings trade was taken on the EURUSD 5 minute chart. As toy can see the market moved down sharply on the European open and then made a double bottom and move back to the 20 EMA which was also at previous resistance. The market then printed three high test bars at the moving average then a small bear bar. I entered the market on a stop entry order one pip below the small bar. The market then produced a small trading range below the moving average as the news approached. With news only a few moments away I tightened my stop to break even and the news went in my favor. Hitting my 1% target.

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