EURCAD Is at a Great entry level.
Risk Management Alert:
The meaning of second target (Always take 60% profit of your first target and keep your 40% running to second target, in this case if any reversal happens your safe and secured,
to make this better, move your stop loss to STOP PROFIT which is above your entry level of 10-15 pips after hitting your first target, and up to you as long as it not negative, This way you don't regret holding or exiting early.
That’s 75% Profit from your idea or mine :D, Why this is good, Let's say you exited early, now you will be looking for another entry in this case you not sure if this is a reversal or a continuation of a trend and TRUST ME its not Easy to find.
Most of traders just throwing ideas without explaining why, how, and when... they just draw some beautiful butterfly's, sea-waves, waterslides, matrix moves, EVEN Some HOLY GRILL indicator, at the end all comes to risk management and key levels, Trust me markets will always do what they want to do.
Good luck.
Risk Management Alert:
The meaning of second target (Always take 60% profit of your first target and keep your 40% running to second target, in this case if any reversal happens your safe and secured,
to make this better, move your stop loss to STOP PROFIT which is above your entry level of 10-15 pips after hitting your first target, and up to you as long as it not negative, This way you don't regret holding or exiting early.
That’s 75% Profit from your idea or mine :D, Why this is good, Let's say you exited early, now you will be looking for another entry in this case you not sure if this is a reversal or a continuation of a trend and TRUST ME its not Easy to find.
Most of traders just throwing ideas without explaining why, how, and when... they just draw some beautiful butterfly's, sea-waves, waterslides, matrix moves, EVEN Some HOLY GRILL indicator, at the end all comes to risk management and key levels, Trust me markets will always do what they want to do.
Good luck.
Trade active
Comment:
First target Hit.
Comment:
in just 1hr 40 pips
First target: 1.53800
Second Target: 1.54200
Stop loss: 1.53300