My system gave me a Short signal which occured just after the red vertical line.
We have a break and close outside of the bottom channel low.
Entry: 1.385
SL: 50
TP: 200
R:R 4
As for the price target, there is a confluence of 3 Fib levels taken from different starting positions.
We have a break and close outside of the bottom channel low.
Entry: 1.385
SL: 50
TP: 200
R:R 4
As for the price target, there is a confluence of 3 Fib levels taken from different starting positions.
Trade active
Trade closed manually:
Closing for +22 pips.
Price has retraced a bit higher than I have liked. I have now loss confidence on this trade and will sit on the side-lines till I have a better idea of direction.
Price has retraced a bit higher than I have liked. I have now loss confidence on this trade and will sit on the side-lines till I have a better idea of direction.
I'm overestimating my trade targets intentionally so I decide when to exit the trade by observing price action and not by using an arbitrary profit target.
Therefore we will need to see when to exit at the right level and not prematurely.