I have opened a Sell Limit trade. The past lows and highs since Europe session start indicated to me that price wants to go lower for a few hours. To get a more beneficial Risk Reward ratio, I decided today to enter with a limit order at the P-line with a Target at the S1-line and a stop just above the last swing high. Let's see how this one plays out.
Note: If price has gone more than halfway to S1 and my trade didn't activate yet, I will cancel the limit order.
Comments
Gnosis
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Entry got triggered after 5 minutes
Gnosis
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Oh boy.. Stop Loss missed by 0.2 pips only. Close call but lucky for us that price reversed and continued to confirm that we're in a down trend.
In light of the upcoming High Impact BoE news, I have moved my Stop Loss into profitable territory at 0.6974 and cancelled my Profit Target.