- Trend is obviously down - Pushing into weekly pivot 1.2883 - Pushing into 100sma 1H channel high - Pushing outside of a well defined descending channel - At 38.2% retracement of the last swing from 1.2994-1.2815 at 1.28835
Sold the rest of the position at 1.2784 ahead of the 1.2760 target 2, not wanting to give back the gains.
Trade closed now.
fxswing
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Ka Ching @1.2820 target 1 reached.
Moving the stop on the remaining of the trade to 1.2863+ for a 1.2760 target.
Free ride with market's money now.
fxlife
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What does the + mean in stop loss 1.2930+ ?
fxswing
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That's means that anything above 1.2930 is a valid stop. Risk management is based on this point.
If price should violate 1.2930, trade would be technically invalidated and closed to realize the loss.
Bulldee
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This chart even Picasso or VanGaugh wont understand ! :)