Been keeping my eyes on this pair for about a couple weks now to get a good entry signal to buy this pair and just got one.
Am now long @1,3705, stop 1 ATR under the previous OR.
My target 1 is at a 1:1 Risk-to-reward ratio (+86 pips if target get hit) and I will then trail stop with each NSH on the way up for target 2 (there is potentially around 1000 pips to make on this trade as there is now nothing but "air" on higher timeframe all the way to 1,46).
Now it's about sticking to the management rules and seeing what the markets is wiling to give me on that trade (I'll take it all, even the losses !! )
Am now long @1,3705, stop 1 ATR under the previous OR.
My target 1 is at a 1:1 Risk-to-reward ratio (+86 pips if target get hit) and I will then trail stop with each NSH on the way up for target 2 (there is potentially around 1000 pips to make on this trade as there is now nothing but "air" on higher timeframe all the way to 1,46).
Now it's about sticking to the management rules and seeing what the markets is wiling to give me on that trade (I'll take it all, even the losses !! )
Comment:
Price has recently put a new structure high on my trading timeframe allowing me to trail stop and reduce my risk from 86 pips to 56 pips. (stop moved from 1,3619 to 1,3649)
Trade closed: target reached:
T1 hit : +87 pips
Got a New Structure High again after hitting target so stop rooled at 1,3733 for +28 pips on trailed stop.
Got a New Structure High again after hitting target so stop rooled at 1,3733 for +28 pips on trailed stop.
Trade closed: target reached:
Trailed stop just got hit.
Total for the trade : +115 pips
Now all flat before the weekend and second round of french elections.
Total for the trade : +115 pips
Now all flat before the weekend and second round of french elections.