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.
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LONG 1 - ACTIVE
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LONG 1 - Stopped Out Loss 6.3%
Trade closed: stop reached
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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.
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From mod @zAngus