Plan #1: (this is my personal preference)
Follow through with the breakout buy which we made on Friday targeting the upper red zone at first and going to the fair market value zone at later stages. In this case, your stop should be just under the critical level risking about 66 pips. Placing stops anywhere before the low is counter productive, don't do it.
Plan #2:
If you are undecided or pessimistic about the long but not really sure, try bracketing the market around Friday's price action. be careful though as I am expecting a bear trap on Monday (expect whipsaws)
Plan #3:
Wait for the 'CS' setup
Follow through with the breakout buy which we made on Friday targeting the upper red zone at first and going to the fair market value zone at later stages. In this case, your stop should be just under the critical level risking about 66 pips. Placing stops anywhere before the low is counter productive, don't do it.
Plan #2:
If you are undecided or pessimistic about the long but not really sure, try bracketing the market around Friday's price action. be careful though as I am expecting a bear trap on Monday (expect whipsaws)
Plan #3:
Wait for the 'CS' setup
Comment:
First target reached.
Comment:
Those who want to stay (I'm staying) in the trade can now move their stops just under today's low for a risk of only 25 pips from entry.
What's next: We need to now break TS, and close above it
What's next: We need to now break TS, and close above it
Comment:
People are askin about where exactly to place the stop. I placed mine exactlyat 0.72100. So you do not have to have it too far from the low
Comment:
So that would increase your risk to 30 pips
Trade active:
I will not use this chart any more. I have posted a new one.
I'm still long .. please check the new chart
I'm still long .. please check the new chart
