I try to keep my trading to a minimum and only during certain times. At the end of London is one of them and though I failed my EURUSD call last night, It was my fault for not checking the calendar on the financial status of the euro's interesr rate, I believe it was. As it was coming down just around London close I noticed an odd candle at the perfect spot I like to trad with a fib and decided I this should be a buy scenario.
So A buy it is but we'll just have to monitor where I'll be taking profit along the way
So A buy it is but we'll just have to monitor where I'll be taking profit along the way
Comment:
Take Profit
Trade active:
I only took 5% of my lots at 5 pips because it did hit the bottom of an order block type candle and I wanted to bank something, even if it was just 5% of my lots on a short order.
Still have 95% of my lots to play with.
Still have 95% of my lots to play with.
Comment:
1.21400 is my next TP zone for 50% of my lots
Comment:
Took 10% of my lots as it crossed the 50% fib line and also reduced my S/L to 1.21095
Comment:
Holding off on scaling any more lot sizes as there seems to be no resistance in price action as this moves along but will update if needed.
Trade closed: target reached:
42 pip win
You're either trading with Smart Money Theory or your just burning your money money. Believe me, I've been there.