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Alexander_Nikitin
Aug 1, 2018 4:04 AM

eurgbp. 5-0 pattern Long

Euro Fx/British PoundFXCM

Description

wait for price to decline to Potential Reversal Zone and start the bounce.

Trade active

executed long:

Trade closed: stop reached

Closed at stop:
Comments
Saheedadex
Good work
Alexander_Nikitin
@Saheedadex, thanks:)
ablet.imin
I would say it is too early to take an up trade.
Alexander_Nikitin
@ablet.imin, you listen to yourself. I listen to my rules.
frupreneur
Nice setup as always Alex
Alexander_Nikitin
@frupreneur, thank you.
elfarouk-fx
is it time or we wait for next 1H candle
Alexander_Nikitin
@elfarouk, there are no we if you ask these questions. you should stay away from this trade.
elfarouk-fx
@Alexander_Nikitin, what that suppose to mean.
Alexander_Nikitin
@elfarouk,
It means that you obviously don't have a plan for this trade. You don't know when to enter and when to exit.

To create a plan you first need to learn all the identification, execution and management rules for this approach. Then you need to do a backtest checking this approach on history executing at least 100 paper trades per on pair on one timeframe. Third, you need to trade your plan on demo account or a small live account to see how it performs under real-time conditions.

Only after that you can use the approach for trading.
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