Hello Fellow Traders,
please feel free to comment on this type of setup. I have used a similar setup on eurusd and noted that it has played out after sometime.
setup consists of 6 trades - 3 Long & 3 Short covering range from 1580 to 2280. I use 5x. noted 19th has Fed Speech so could rip through all my closer entries.
1HR TimeFrame
TB FIB TOOL used.
please feel free to comment on this type of setup. I have used a similar setup on eurusd and noted that it has played out after sometime.
setup consists of 6 trades - 3 Long & 3 Short covering range from 1580 to 2280. I use 5x. noted 19th has Fed Speech so could rip through all my closer entries.
1HR TimeFrame
TB FIB TOOL used.
Comment:
LONG 1 - ACTIVE
Comment:
LONG 1 - Stopped Out
Loss 6.3%
Loss 6.3%
Trade closed: stop reached:
reflecting on this setup.
all stops hit.
price kinda played out within total range.
Long 3.6% or $60 drawdown
Short from top of range ran a 7.5% or $165 drawdown. currently it would be 1.6% or $38 profitable
1x - 2x would have been the safest risk for this setup with no stoploss and just adding to position at each level. prob around 25% gains at current price.
from bottom price ran 55% to top.
opening a market long position on date of setup idea been published a total of 18% drawdown was experienced so 5x prob would have played out safely.
lower leverage adding to positions offloading on pullbacks rentering rinse repeat. I am beginning to understand this is a patience game.
all stops hit.
price kinda played out within total range.
Long 3.6% or $60 drawdown
Short from top of range ran a 7.5% or $165 drawdown. currently it would be 1.6% or $38 profitable
1x - 2x would have been the safest risk for this setup with no stoploss and just adding to position at each level. prob around 25% gains at current price.
from bottom price ran 55% to top.
opening a market long position on date of setup idea been published a total of 18% drawdown was experienced so 5x prob would have played out safely.
lower leverage adding to positions offloading on pullbacks rentering rinse repeat. I am beginning to understand this is a patience game.