Setup:
It was noted that EURUSD could be dropping to 1.14599
Our setup is complemented by the following:
1. Multiple timeframe trend analysis
2. Divergence on H1.
Approach:
Our trade strategy is as follow: We will open two consecutive trades, they will both have the same stop loss but different take profits.
Trade 1:
Entry: 1.17099
SL: 1.17790
TP: 1.15916
Trade 2:
Entry: 1.17099
SL: 1.17790
TP: 1.14599
It should be noted that once TP1 is hit, we will move the stop loss of trade 2 to breakeven.
Risk & Reward:
TP1 - 1:1.6
TP2 - 1:3.6
Total Risk:
2% or 140 PIPS
Total Reward:
5.2 % or 366 PIPS
Good Luck :-)
It was noted that EURUSD could be dropping to 1.14599
Our setup is complemented by the following:
1. Multiple timeframe trend analysis
2. Divergence on H1.
Approach:
Our trade strategy is as follow: We will open two consecutive trades, they will both have the same stop loss but different take profits.
Trade 1:
Entry: 1.17099
SL: 1.17790
TP: 1.15916
Trade 2:
Entry: 1.17099
SL: 1.17790
TP: 1.14599
It should be noted that once TP1 is hit, we will move the stop loss of trade 2 to breakeven.
Risk & Reward:
TP1 - 1:1.6
TP2 - 1:3.6
Total Risk:
2% or 140 PIPS
Total Reward:
5.2 % or 366 PIPS
Good Luck :-)
Trade closed: stop reached
Trade active:
We will re-enter the trade:
Trade 1:
Entry: 1.17099
SL: 1.17790
TP: 1.15916
Trade 2:
Entry: 1.17099
SL: 1.17790
TP: 1.14599
Trade 1:
Entry: 1.17099
SL: 1.17790
TP: 1.15916
Trade 2:
Entry: 1.17099
SL: 1.17790
TP: 1.14599
Comment:
We will re-enter the trade
Order cancelled
Trade active:
Our 2nd entry has hit Tp1.