The FOREXCOM:HKXHKD prices had been consolidating for quite a while and not creating any higher highs (HHs). Yesterday was a good setup to short after the compression was done, but I failed to catch it. This morning, I saw another good opportunity to short with a condition that the price will close at 24,190 area.
Here is my personal trade opinion: Sell Stop at 24,190 Stop Loss at 25,000 Take Profit at 23,125 Risk Reward Ratio = 1.35R
Disclaimer: The analysis above for educational purposes only, I do not responsible for your losses. Please adjust your own lot-sizing according to your appetite. If you are benefiting from my trade opinion, please buy me coffee . As always, move your SL when you are in the profit zone.
Trade active
⋅
Sell Stop is triggered.
Comment
⋅
Reduce SL to 24,700 as there is a confirmation that the price will go even lower.
Comment
⋅
Lower your SL again in the profit area at 24,000 Now we are riding the wave with no risk at all.