Break and restest of the 50 EMA
Bounce off the pivot point
Bullish Engulfing
Upcoming news in NZ of consumer confidence could be a good boost or if negative could move the trade against us.
risk/ reward 1:2
Stop below 50EMA and Pivot point. TP just before R1 but will need to trade through some previous resistance level at .70800
risk .5%
Let me know your thoughts?
Bounce off the pivot point
Bullish Engulfing
Upcoming news in NZ of consumer confidence could be a good boost or if negative could move the trade against us.
risk/ reward 1:2
Stop below 50EMA and Pivot point. TP just before R1 but will need to trade through some previous resistance level at .70800
risk .5%
Let me know your thoughts?
Trade closed: target reached:
TP Hit - held for a day and a bit.
Came very close to hitting the SL before moving in our direction.
I was thinking of giving it a little more room but made it a tight SL. Lucky this moved in our direction - but the lesson learned is not to be greedy with the risk reward squeezing out the a couple of extra pips. Reduce stress - give your trade room to breath.
Came very close to hitting the SL before moving in our direction.
I was thinking of giving it a little more room but made it a tight SL. Lucky this moved in our direction - but the lesson learned is not to be greedy with the risk reward squeezing out the a couple of extra pips. Reduce stress - give your trade room to breath.