Entry: between 3940 to 3660
SL: 3490
Target 1: 4233
Target 2: 4716
Target 3: 5626
R:R: 4.28
Reason for Entry: Rounded 1st test of weekly OB (see below)
SL: 3490
Target 1: 4233
Target 2: 4716
Target 3: 5626
R:R: 4.28
Reason for Entry: Rounded 1st test of weekly OB (see below)
Comment:
All orders filled. Price bounced from the exact damn pip of the bottom of green rectangle and posted over 7% profit so far. Amazing !!
Comment:
Target 1 hit with precision. Closed one third position as planned. Also moved SL to breakeven (which means I can't lose anything from this trade now)
Comment:
I've just set another take profit order for 20% of my remaining position at 4420. That's where there is a H4 OB. When price reaches there, there will definitely be some sell-off because of the rounded retest of that resistance level (red rectangle in chart). I would like to lock in as much profit as possible on the way up because I am trading counter trend.
Comment:
My average entry price was 3777.5
Locked in profit for one third position at 4233
Moved SL up to entry for remaining two third position and stopped out at 3780
Overall, R: +0.5, Profit: 4.08%
Not the result I expected but happy with this small profit.
Onto the next trade when I see a better setup.
Locked in profit for one third position at 4233
Moved SL up to entry for remaining two third position and stopped out at 3780
Overall, R: +0.5, Profit: 4.08%
Not the result I expected but happy with this small profit.
Onto the next trade when I see a better setup.
Order set at 3666 for another 50%
Position size: small with no leverage
Counter trend trade so risk management is paramount