Ripple: Buy Opportunity (#1 Trade - 50 Trades Journal)
This is my first trade of the 50 trades journal I began in previous week. In case you you didn't get in my post the link is below (EURUSD).
Price bounced from a key support level at the 0.73400 and broke above the sliding parallel of the downsloping median line acting as resistance. Since breaking above it's been in a correction pulling back to the broken sliding parallel. A bullish divergence in the MACD confirms an uptrend.
Setup: Buy
Entry level: 0.19558
Stop-loss: 0.17255
Profit target: 0.24389
Risk/Reward: 2.1:1
Total account (units): 100
Risk 1 unit
Tradewith 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.
Price bounced from a key support level at the 0.73400 and broke above the sliding parallel of the downsloping median line acting as resistance. Since breaking above it's been in a correction pulling back to the broken sliding parallel. A bullish divergence in the MACD confirms an uptrend.
Setup: Buy
Entry level: 0.19558
Stop-loss: 0.17255
Profit target: 0.24389
Risk/Reward: 2.1:1
Total account (units): 100
Risk 1 unit
Tradewith 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 above correction and we are now active. Stop-loss, entry and tp as shown in the chart. This setup offers 3.5:1 risk/reward ratio
Comment:
Stopped at breakeven
