Why? The Reasons
1) Daily High/Low happened in-between the times of 10:00 p.m. to 2:00 a.m. PST/USA west coast time (Happens 80% of the time)
2) PA reversal happened a daily pivot R2 level (blue line)
3) Noted ABC was a fake-out (going bearish) then real daily trend happened afterward
4) EMA 10 & EMA 20 were very close & crossed over at same area (red & white lines)
5) Noted volume increase at the same time (fuel for forex to move)
*I used a 12 pip to 25 pip stop loss with the right lot size to keep risk management on all trades
* Noted aggressive and conservative time to enter this noted trade
* Noted: This trade went thru three pivot levels going up: Pivot Point, S1 & S2 (you could have started three individual trades) and close one out at main pivot point, left two trades going with a new break-even stop loss then closed 2nd trade out of S1 moved stop loss up and then final 3rd trade out at S2).
Finally, with an initial stop loss of 12 pips to 25 pips & correct lot sizes, with profits of 25 pips, 50 pips & 90 pips, risk/reward is 1:1, 1:2 & 1: 3 plus which is more than acceptable for this forex setup. I wish you all the best, risk management is #1 to trade for a lifetime. This trade lasted 8 hours around.
1) Daily High/Low happened in-between the times of 10:00 p.m. to 2:00 a.m. PST/USA west coast time (Happens 80% of the time)
2) PA reversal happened a daily pivot R2 level (blue line)
3) Noted ABC was a fake-out (going bearish) then real daily trend happened afterward
4) EMA 10 & EMA 20 were very close & crossed over at same area (red & white lines)
5) Noted volume increase at the same time (fuel for forex to move)
*I used a 12 pip to 25 pip stop loss with the right lot size to keep risk management on all trades
* Noted aggressive and conservative time to enter this noted trade
* Noted: This trade went thru three pivot levels going up: Pivot Point, S1 & S2 (you could have started three individual trades) and close one out at main pivot point, left two trades going with a new break-even stop loss then closed 2nd trade out of S1 moved stop loss up and then final 3rd trade out at S2).
Finally, with an initial stop loss of 12 pips to 25 pips & correct lot sizes, with profits of 25 pips, 50 pips & 90 pips, risk/reward is 1:1, 1:2 & 1: 3 plus which is more than acceptable for this forex setup. I wish you all the best, risk management is #1 to trade for a lifetime. This trade lasted 8 hours around.