In a nutshell:
This is not an advice it is only my personal opinion.
- Idea is based on the current Momentum and...
- ...decison of PBOC not to increase interest rates and...
- ...additional US import tariffs on Chinese gods (USD 50bn); TBC
- Trade range within the existing triangle
- Keep an eye on the trade volumes (support gets lower around 12,050); would not expect an immediate break of the support, but the probability is increasing
- SL/TP won´t be shared for this trade (but should be obvious)
- Trade will be triggered after confirmation of the import tariffs
This is not an advice it is only my personal opinion.
Trade active
Comment:
Comment:
We broke the 1H support line
Comment:
Today: Dragon Boat day in China, hence bank holiday.
Comment:
240 pips/points so far. Do not forget that the SE is not a one way. You might take some profit or you are more ambitious and see what will happen during the EU session. For me, I secure some points. As Always, it is about Timing and Trump (who just announced additional trade trariffs on good worth USD 200bn of 10%).
Trade closed: target reached:
I am closing the trade since I have already sold 70% of my position. Nevertheless, I move SL to BE and see if the remaining position it going to hit the support zone. I hope you enjoyed the trade, let´s find the next opportunity… If we make it to the support zone I immediately sell additional 15% and keep 15% in order to see if we are going to break the support zone.
Comment:
I sold the remaining 15% @ support line; hence 340 pips/points. I keep the remaining 15% and won´t update the trade anymore.
Comment:
Bam… additional 250 pips/points on the remaining position. Sold the last 15%... I will wait for Thuesday/Wednesday and decide if I see a possibility to re-enter