Price forms double top at that resistance and breaks the neckline
Shorted two orders @ 1.0069 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%
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TP1 hit. First order closed and stop loss moved to entry for second order.
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1st Order Profit = +1.12% 2nd Order Profit= Floating
Trade closed manually
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Closed 2nd order at 0.9990. At the 50-days simple moving average which may support the price until the FOMC meeting tomorrow.
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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.
Awesome setup. I think TP 2 will get hit easily before FOMC meeting
Thank you for sharing
A-shot
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Congrats on an awesome trade!
Angel
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I watched the train coming and I didn't take the opportunity. Thanks for sharing. Great post!
TheDudeForex
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Very Nice Technician !
rikabc
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perfect!!! hurra!!)
TheDudeForex
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looks like support here is holding
Johanes
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Jeff_Wheelwright
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I'm also going to sell that as USDCHF has formed big rising wedge, but I hope for one more upside move. I put two pending orders: sell limit @1.0160 and sell stop @1.0045. Thank you for focusing my attention on this pair and good luck.
Thank you for sharing