Trade (1)
Entry Type : Limit Buy @ 1.10150
Stop Loss : 1.09900
Take Profit : 1.12500
R/R : 9.4
R/R % : .50% / 4.20%
Technical Analysis:
Price Action has created a doji on the daily time frame with rejection off the 1.10 psychological level as well as the 61.8 Fib Level. Price attempted to break the level again, but rejected off as well and is looking to end the day bullish. Upon daily close I will place a limit buy order as specified to avoid any unnecessary swap long fee. My price target for the specified trade would be the 1.125 resistance which happens to be our -27.2 fib extension. I will only execute this position with a .5% risk allocation as the overall trend has been bearish, however given the recent state of the DXY (daily doji previous close and bearish close today) I have high hopes for this position. None the less, discipline is essential and risk management is key. My only conflict with this position would be our current H4 closure as it signifies a short term sell off.
Entry Type : Limit Buy @ 1.10150
Stop Loss : 1.09900
Take Profit : 1.12500
R/R : 9.4
R/R % : .50% / 4.20%
Technical Analysis:
Price Action has created a doji on the daily time frame with rejection off the 1.10 psychological level as well as the 61.8 Fib Level. Price attempted to break the level again, but rejected off as well and is looking to end the day bullish. Upon daily close I will place a limit buy order as specified to avoid any unnecessary swap long fee. My price target for the specified trade would be the 1.125 resistance which happens to be our -27.2 fib extension. I will only execute this position with a .5% risk allocation as the overall trend has been bearish, however given the recent state of the DXY (daily doji previous close and bearish close today) I have high hopes for this position. None the less, discipline is essential and risk management is key. My only conflict with this position would be our current H4 closure as it signifies a short term sell off.
Trade active:
Limit Buy order was triggered.
Trade is running risk free.