My strategy is not to take short above the 100 EMA but after PMI data release I thought the market could be overbought.
Yes data were not good for USD but not good for economy as well so I opened a short on this big resistance level.
My strategy is to trade in a well defined trend on the 1h period, long biais if price is above the 100 EMA or short biais if it is below. And I use price action and level breakout as signal.
.Stop loss at least 2*ATR (1h)
.Take profit 4*ATR (or 6)
.when price reached 1R, move SL to breakeven and let run. Move by another R if your target is more than 2R.
Yes data were not good for USD but not good for economy as well so I opened a short on this big resistance level.
My strategy is to trade in a well defined trend on the 1h period, long biais if price is above the 100 EMA or short biais if it is below. And I use price action and level breakout as signal.
.Stop loss at least 2*ATR (1h)
.Take profit 4*ATR (or 6)
.when price reached 1R, move SL to breakeven and let run. Move by another R if your target is more than 2R.
Trade closed: stop reached:
damn market spiked before session closed lmao
My entry wasn't bad but maybe I should have put my stop further