Setup:
It was noted that EURGBP could be heading towards to 0.88128
Our setup is complemented by the following:
1. Multiple timeframe trend analysis
2. Divergence
3. Head & Shoulders pattern
Approach:
Our trade strategy is as follow: We will open two consecutive trades, they will both have the same stop loss but different take profits.
Trade 1:
Entry: 0.87600
SL: 0.87267
TP: 0.87773
Trade 2:
Entry: 0.87600
SL: 0.87267
TP: 0.88128
It should be noted that once TP1 is hit, we will move the stop loss of trade 2 to breakeven.
Risk & Reward:
TP1 - 1:0.5
TP2 - 1:1.6
Total Risk:
2% or 66 PIPS
Total Reward:
2.1 % or 70 PIPS
** It should be noted that this trade don't consist of high reward. However, the setup is still valid.
Good Luck :-)
It was noted that EURGBP could be heading towards to 0.88128
Our setup is complemented by the following:
1. Multiple timeframe trend analysis
2. Divergence
3. Head & Shoulders pattern
Approach:
Our trade strategy is as follow: We will open two consecutive trades, they will both have the same stop loss but different take profits.
Trade 1:
Entry: 0.87600
SL: 0.87267
TP: 0.87773
Trade 2:
Entry: 0.87600
SL: 0.87267
TP: 0.88128
It should be noted that once TP1 is hit, we will move the stop loss of trade 2 to breakeven.
Risk & Reward:
TP1 - 1:0.5
TP2 - 1:1.6
Total Risk:
2% or 66 PIPS
Total Reward:
2.1 % or 70 PIPS
** It should be noted that this trade don't consist of high reward. However, the setup is still valid.
Good Luck :-)
Trade closed: target reached:
+0.5%