Downtrend on all timeframes. Had a clean pullback to 78.6%, showing some buyers exhaustion. In consolidation, however giving a few bearish 1H engulfing candles. Risking 40 pips to get 169, R/R:4:1.
Stop loss and targets are labeled on chart.
*Risk Management is KEY!!
Stop loss and targets are labeled on chart.
*Risk Management is KEY!!
Trade closed: target reached:
Target 1 HIT! +50 pips - Move stop loss 10 pips in front of entry and let it ride. Have a nice weekend.
Trade closed manually:
Trade has reversed and hit our stop 10 pips in profit. On to the next.