Sell stop at 1.1060. 25 pip move.
Trade active:
I entered the market on the 0945 candle at 1.1060 with a SL of 10 pips. It was a good decision because of the pull-back on the following 2 candles. I might consider increasing my SL to 12 pips but this will also effect my current exit strategies if I keep the same ratio of 1:2. This is somethin I need to think and consider. Also, I have another sell stop at 1.1028 to benefit from any significant downward move. This is a good strategy to maximize profits and matches with the other technicals. My ratio is 1:2 but with less pips. I believe maintaining my ratio is important to mitigate risk.
Trade active:
One pressing concern with this trade is that it is countertrend and the 200 moving avg is resting at 1.1048, above my TP of 1.1040.
Comment:
Make that 200 MA at 1.1042. NOT 1.1048.
Comment:
I adjusted my TP to 1.1042 and my r:r is now 1:1.8.
