Forex trading signal, a high-two reversal

We entered short at the close of bar one which provided a reasonable probability of a measured move. Tuesday 20th February, 9.30 am. High-two reversal.

The close at bar 2 put us in the money and looked right at this stage to reach our target. We only noticed later that the close of bar 2 equalled the support level at 7:30 marked by the red arrow.

A high-two was activated (bar 3) closing above the previous three bars; this required an immediate exit of our short for a small loss and a reversal entry long.

Our reward came with the big move for the day so far.

The reversal entry is often hard to do and one that we do reluctantly and only if we are confident of the Forex trading signal.

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