I am going to keep this setup from last week, so if it looks familiar, it should! We've already hit our first partial take profit level and I am still keeping my bearish bias looking for more chances to get short. We can do that by waiting for a drawback for better sell near our original entry, or a break down lower below price structure. We have plenty of room to fall and with May resigning it may give us a big gap down over the weekend, so we will have to be really cautious with this one!
@MPTROFINOCAPITAALL, I trade the trend until the trend is invalidated. As long as it keeps dropping I add to my sell taking profits along the way, when the trend invalidates I get out and wait for a new trend to be established. Statistically trying to guess reversals is a fools game in the long run. I let the market tell me where it's headed and when it changes it's mind, I change my bias with it
MPTROFINOCAPITAALL
⋅
@The808Trader, Great, I liked the strategy for this reason the laughter.
We're sitting around 280 pips profit on this setup, I will continue to close partial profit as we hit our TP levels and leave some of the position open to run
The808Trader
⋅
First partial take profit hit, adjusting stop loss to breaken/slight profit and letting the rest run.