Test bar shows potential move to the update. Buy stop trade being taken here.
TP hit, well done anyone who used this trade I put up previously.
2:1 long trade. I do around 10 of these trades weekly and win between 5 and 7 of them all on a 2:1
Once the candle closes, should it close as a test bar like it is at the moment I am locking in a buy stop as the price seems to be in line with a mini trend as well as with the Fibonacci's. This trade is a 5:1 RR but will trail my stop as could only go 2 or 3:1
Pull back + Test bar + plus if you check stochastics 5,3,3 is in the oversold area so that is my trigger for a pending order.
30 pips trade here. New today caused a pullback and I'm looking to take 30 pips in the long direction should the next candle cross the high of this candle
I am putting this in as a limit trade. Should the price break out of this trend the I will only lose 25 pips, yet if the trend continues then there's a chance that this can go 6:1 but I am only going for a 4:1. I am only risking 0.5% on this trade due to the very short SL
I have placed my pending order just above yesterdays high. SL just below the low.