Happy Easter Traders,
The trade setup above uses two strategies that happen to be part of my overall trade plan. In the grand scheme we have a potential BEAR BAT forming, now my question is what needs to happen in order for me to enter a trade that capitalizes on the completion of the CD leg...well it appears i have a bullish triangle with a .382 retracement formed.
Now my risk reward profile can be set accordingly to give me the best probability of this trade going in my direction.
If not, well its just the cost of doing business.
PIP TARGET 355
PIP RISK 110
BREAKEVEN aka FIRST PROFIT TARGET = 177 PIPS