- Key long term resistance area
- Price forms double top at that resistance and breaks the neckline
TP- For 1st order : 1.0012
TP- For 2nd order : 0.9943
SL: 1.0107
Average Risk/Reward: 2.4
Risk of capital for trade: 1.5%
Comment:
TP1 hit. First order closed and stop loss moved to entry for second order.
Comment:
1st Order Profit = +1.12%
2nd Order Profit= Floating
2nd Order Profit= Floating
Trade closed manually:
Closed 2nd order at 0.9990. At the 50-days simple moving average which may support the price until the FOMC meeting tomorrow.
Comment:
Trade Summary:
Shorted two orders @ 1.0069
1st order reached TP1 at 1.0012
2nd order closed manually at the 50 days SMA at 0.9990
Risk of capital for trade: 1.5%
Profit for 1st order= 57 pips = 1.12%
Profit for 2nd order= 79 pips = 1.5%
Total Profit for Trade = 2.612%
Accumulated Profit For All Trade = 2.232%
Note: Trade profit depends on your choice of position size according to your risk per trade. The bigger the risk, the bigger the position size, hence the bigger the reward.
Shorted two orders @ 1.0069
1st order reached TP1 at 1.0012
2nd order closed manually at the 50 days SMA at 0.9990
Risk of capital for trade: 1.5%
Profit for 1st order= 57 pips = 1.12%
Profit for 2nd order= 79 pips = 1.5%
Total Profit for Trade = 2.612%
Accumulated Profit For All Trade = 2.232%
Note: Trade profit depends on your choice of position size according to your risk per trade. The bigger the risk, the bigger the position size, hence the bigger the reward.
