PSR Breakout Trade - Long on break of Previous Resistance
Entry Trigger:
A. Conservative Trigger= HHHC candle + take trade on next candle close (confirmation candle ) if also blue/bullish.
B. Aggressive Trigger = Go long if HHHC of PSR. 1H/TF
*depends on price action and volatility of the day.
Stop:
SL set 10 pips below Previous Support.
Target(s):
1R + Target trade to next zone @ 1.1600/20 (2.5R)
Management:
Do not trail SL. Move SL to break-even at 1R. Let it play out.
Position size:
Max 2%E / 2 positions of 1%E.
Close P1 at 1R
Close P2 at target.
Entry Trigger:
A. Conservative Trigger= HHHC candle + take trade on next candle close (confirmation candle ) if also blue/bullish.
B. Aggressive Trigger = Go long if HHHC of PSR. 1H/TF
*depends on price action and volatility of the day.
Stop:
SL set 10 pips below Previous Support.
Target(s):
1R + Target trade to next zone @ 1.1600/20 (2.5R)
Management:
Do not trail SL. Move SL to break-even at 1R. Let it play out.
Position size:
Max 2%E / 2 positions of 1%E.
Close P1 at 1R
Close P2 at target.
Order cancelled:
No Trade - No Break of structure - keep on watch list.
Comment:
Back on Watch list. looking for new zone to trade from.