Bearish engulfing

FX:EURGBP   Euro / British Pound
Bearish engulfing on the hourly's for eur/gbp . Tight stops and 1:1 risk reward but let the profits run. These are generally volume trades, trade each one you see and our testing has shown it works !
Winning trade !! Although price action plays its part most of this trade comes from positive GBP data, prime example of letting profits run. I would be interested to hear anyone who views this, what are you take profit strategies to maximise gains.
joelduque surefire-ltd
@surefire-ltd, Congrats on this trade! Would have taken this if the candle close was lower than the previous low too. I could trail stop by Fibonacci retracement levels of the swing low to swing high (38.2, 61.8, and swing low) to maximize profit.
surefire-ltd joelduque
@joelduque, our testing showed unfortunately that this dropped our level of winning trades too much. It is pretty much essential that you start off at a 1:1 risk reward, our current strategy involves a trailing stop from T1. that way you guarantee that winning trades remain winners and dont reverse taking out your stops before fib levels and can at the very least make a few extra pips.
surefire-ltd surefire-ltd
@surefire-ltd, thankyou for your thoughts we all trade in different ways so interesting to hear your methodology
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