FX:GBPCHF   British Pound/Swiss Franc
Coming off an impressive long from last weeks bullish bat pattern, the pair has now come back to retest previous structure highs. Although i wouldn't consider this to be the optimal structure level, the risk reward that is available on this trade makes it worth the take. A single ATR stop above the highs provides me with a less than 20pip risk (if i'm wrong, I want to be wrong fast) , while a move into previous structure would offer more than 30 pips in potential reward. Check out my youtube page a little later to see how we broke this down in today's Live TRading Room session https://www.youtube.com/channel/UCVveEks3MWZqOsvzTF_LGQg
Akil Stokes -Head FOREX Trading Coach at Trade Empowered
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With the HHHC on the double top this was a perfect example of using the graceful exit strategy we talk about to keep out of danger and minimize potential losses since the trade had become invalidated.
2 years ago
Thank you Akil for sharing this idea. I ignored the invalidation ( shame on me :-D ) but my target @1.5306 was filled :-)
+1 Reply
Akil_Stokes TOP Scu_FX
2 years ago
No shame in it, I don't use the gracefull exit strategy either for this exact reason. I've seen the markets come back too many times, leaving me upset. Good trade buddy!
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