After reaching the upper parallel of the ascending channel price bounced, dropping to the down breaking below the short term uptrend. It is now developing a corrective structure as it pulls back after the breakout. Very soon we may have a new impulse to the down.
Setup: Sell
Entry level: 1.32149
Stop-loss: 1.33484
Profit target: 1.27964
Risk/Reward: 3.15:1
Trade with care,
John
DISCLAIMER: You are solely responsible for your trading. The possibility exists that you could sustain a loss in excess of your initial investment.
Setup: Sell
Entry level: 1.32149
Stop-loss: 1.33484
Profit target: 1.27964
Risk/Reward: 3.15:1
Trade with care,
John
DISCLAIMER: You are solely responsible for your trading. The possibility exists that you could sustain a loss in excess of your initial investment.
Trade active:
Price broke below the correction before reaching our initial entry level: We are now active with sl, tp and entry as shown in the chart below:
Comment:
The setup offers a 4.25:1 R/R
Trade closed manually:
We exit the trade manually with a profit of 65 pips. Later on in the day, we have news and I prefer to book my profit instead of hoping for something big. For those traders who wish to stay in you better move sl at breakeven and at least risk 0 in case, you stopped out
Comment:
This trade's result +65pips
