At the top of a rising(bearish) wedge inside of ascending bull-flag range. Provides for wonderful R&R. Entry and stop as shown. I am doing 50% now and 50% at another touch of the top of the wedge. Safe trading.
Trade active:
Second entry hit, currently in profit. Stop moved to wedge high. Decreased risk about 1/3 with the second entry taken into consideration. If you understand the risk reward related, now would be the time to increase position size. Do not take a loss on the total position if you plan to increase in this area outside of the wedge. As always, safe trading.
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Stop to entry. Enjoy risk free profit.
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Just realized I put USDMEX instead of USDMXN. Bitmex always on the brain even when I'm trading forex. LMFAO
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Halfway to bull flag range target.
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Second leg down, I would think about taking some profit or putting a tight stop on part of your position. Want to preserve gains made, no need to get greedy on a profitable trade.
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I took 1/3 profit at lows, moved 1/3 of my stop to 20.31, and the final third my stop was moved to 20.35.
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took out profit stop one. 1/3 of position left for a runner
Trade closed: stop reached:
Runner stop hit, good profit on this one.