Action to Take: enter at market Take Profit Level: see chart Stop Loss Level: see chart Additional Factors: Total Risk of Account Equity: 2% or less
Trade active
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Bring stop loss up to breakeven. There is a hammer on the 1 hour and the previous resistance was almost reached on last move up. Keep losses to a minimum as this plays out.
Comment
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We remain above the new Pivot high of our new session so we will remain long and would have brought the stop loss to just under the new Pivot low of approximately 1.14610 if we had not already moved up stop to breakeven approx. 1.14650
Trade closed manually
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Time to exit the trade with small profit. Market is stalling and no momentum.
Comment
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Clearly the trade had more left in it. This is a good lesson in using multiple contracts and taking partial profits at more than one target level, maintaining a stop loss at breakeven and letting the market run.