This post is just a trade update on my previous post on when I entered the trade.
A couple of days after the trade was entered, It has formed a common triangle chart pattern. Now there are ways to trade both ways going up or going down. But since I am already in a short trade, I must manage my trade to ensure that there is still profitability. Since there is a possibility that the price may break to the upside, I will change my stop loss to more than break even so that I will have a little profit if the trade goes against me. And since a triangle formation has formed, if the price breaks to the down side, we will take advantage of a possible momentum that it may bring so I am also increasing my take profit.
If you want more analysis, check out my site.
www.razoteforex.com/
A couple of days after the trade was entered, It has formed a common triangle chart pattern. Now there are ways to trade both ways going up or going down. But since I am already in a short trade, I must manage my trade to ensure that there is still profitability. Since there is a possibility that the price may break to the upside, I will change my stop loss to more than break even so that I will have a little profit if the trade goes against me. And since a triangle formation has formed, if the price breaks to the down side, we will take advantage of a possible momentum that it may bring so I am also increasing my take profit.
If you want more analysis, check out my site.
www.razoteforex.com/