I agree with your comments on minimizing risk but I don't think you are giving yourself enough exposure given the volatility that could be ahead on Thursday for the ECB meeting. Nonetheless, a very small risk with big potential but I would just wait until after Thursday before entering a trade.
ViZiV
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@OJFX_, thanks for the comment, the way I look at it.. I buy at 1.15559 riding it back to the high, if it goes against me 70pips. I will reverse the trade and double down but only with a potential 140 pip target going down to 1.13459 just to save a loss automatically and made profit. In that scenario, and we hit that price... I’m just going to buy 1.13459, it’s at support, with a 70pip stop. Ride that trade to 2 potential targets 1.15559 or back to the high @ 1.23959. If it goes against me I just repeat the same thing. So all round I’ve got very small risk compared to the large profit gain. No need for news. Just ignore it. Always hedge your bets. It’s the ONLY way to keep every penny you’ve earned. I hope you see my logic. Again thanks for the comment