Description
⋅ Figure we are either in a3rd wave downward extension as marked or an inverse head and shoulders
With that in mind sell entries set at levels in the 0.9925 area.
TP1 - 0.9850 (2.3 Reward:Risk)
TP2 - 09815 (3.4 Reward:Risk)
TP3 - 0.9760 (4.3 Reward Risk)
Above 0.9960 looking to phase in 3x reversal for Break Even
Trade active
⋅ All 3 entries triggered
Comment
⋅ Stop loss moved to break even
Comment
⋅ Typo Above
TP1 - 0.9880 (2.3:1 Reward:Risk) has been hit
Trailing stops at 0.9920
Comment
⋅ Trailing stops hit
Trade re-entered at 0.9925
Comment
⋅ Stopped out at 0.9960
Re-entered at 0.9925
TP 0.9885
Failure to break below 0.9885 would imply pair is still in an uptrend and invalidates this scenario
Trade closed manually
⋅ Closed manually at break even
Failure to make a sustained break below 0.9890 invalidated scenario
+53pips +(2 * 5 pips) - 35 pips = +28 pips