Stay tuned for the post updates below for when I will be entering the market, whether Long or Short.
-At the moment price has broken below the Tokyo Stock Exchange range (03:00-09:00 GMT +3) -Price is well below the Daily point of control so we could be seeing a move all the way back to that level and find an opportunity
For risk and money management purposes, always determine a max. of 2% risk on every trade. For example on a $50,000 account, this would be equivalent to 1,25 Lots with an 80 pip stop loss. Targets and closure of positions may be subject to alteration throughout the course of the trade. This is due to the ever-changing and unpredictable nature of the market. This post is set to be used and serve as an example and in an educational manner and is not to be taken as direct investment advice.
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Looks like it's forming a flag
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bias is a buy at the moment
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we also got a crossover between the 2 fast moving EMAs
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squeezing nicely
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My personal details: Buy stop @ 1.1572 SL @ 1.1565 (7 PIPS) TP @ 1.1584 (12 PIPS) RR = 1.71
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Ordered cancelled as price broke below the EMAs I will still keep an eye on it and see when another opportunity re-appears and post it here as an update