I will be entering as soon as a Daily trend candle forms that is my entry criteria.
I will update below as to when exactly I will place my trade with all the details
The pattern we are potentially looking at is an Expanding Diagonal looking to catch Wave number (5) of the sequence.
The Stochastic is also forming a Hidden Divergence which implies trend continuation adding some further confirmation.
For risk and money management purposes, always determine a max. of 2% risk on every trade.
For example on a $50,000 account, this would be equivalent to 1,25 Lots with an 80 pip stop loss.
Targets and closure of positions may be subject to alteration throughout the course of the trade. This is due to the ever-changing and unpredictable nature of the market.
This post is set to be used and serve as an example and in an educational manner and is not to be taken as direct investment advice.
I will update below as to when exactly I will place my trade with all the details
The pattern we are potentially looking at is an Expanding Diagonal looking to catch Wave number (5) of the sequence.
The Stochastic is also forming a Hidden Divergence which implies trend continuation adding some further confirmation.
For risk and money management purposes, always determine a max. of 2% risk on every trade.
For example on a $50,000 account, this would be equivalent to 1,25 Lots with an 80 pip stop loss.
Targets and closure of positions may be subject to alteration throughout the course of the trade. This is due to the ever-changing and unpredictable nature of the market.
This post is set to be used and serve as an example and in an educational manner and is not to be taken as direct investment advice.
Comment:
still no entry as a daily trend candle hasn't formed yet
Comment:
Buy stop set @ 1.3060
Stop loss @ 1.2920
Target @ 1.3200
Stop loss @ 1.2920
Target @ 1.3200
Trade active
Comment:
price surged up nicely after a negative NFP for the US economy
Comment:
nice move up - let's hope it transfers over to the market open on Monday too
nice move up - let's hope it transfers over to the market open on Monday too
Comment:
nice continuation - little bit of a pullback yesterday but it looks like the strength is there
Trade closed manually:
beautiful follow through - no need to keep it open any longer over the weekend