First thing on my radar for today is this Bullish Cypher on the H4 which just completed.
However because of the stop size, I have to wait price keeps on pushing down to 1,2880 area where I have my orders.
Will be following this pattern closely as my orders will have to be cancelled if price hits would-be targets before I get filled.
However because of the stop size, I have to wait price keeps on pushing down to 1,2880 area where I have my orders.
Will be following this pattern closely as my orders will have to be cancelled if price hits would-be targets before I get filled.
Trade active:
As I had to let price action come to me (stop was way too big for my rules at the D completion point), I had to check it out closely if it would hit would-be target after completion.
But price has been continuing its push down and been filled my order for a potential great risk to reward ratio if price hit targets (1:2,5).
Now let's wait and see !
But price has been continuing its push down and been filled my order for a potential great risk to reward ratio if price hit targets (1:2,5).
Now let's wait and see !
Trade closed: target reached:
After price did consolidate about 50 pips from target for a while, the release of FOMC minutes last night gave me hope it would hit target, but it did not (testing a bit more my patience and discipline).
But great GBP data's release a few minutes ago (Retail Sales) gave GBP the needed bullish momentum to hit my target and let me bank 216 pips on this trade !
But great GBP data's release a few minutes ago (Retail Sales) gave GBP the needed bullish momentum to hit my target and let me bank 216 pips on this trade !
Stopped trailed based on H1 price movement ahead of the news release.
Now let's wait and see if target will get hit or not ! (hoping for it to bank 216 pips on target instead of 14 on trailed stop)