Hello Dear Traders.
My idea on Eurjpy with layered and incremental TP levels. Follow your own R:R:R rules and do not trade blindly.
And please, do not forget that we are retail traders, with limited access to the right tools like banks. So, we have to adjust our Stop loss levels far away from the most predictable areas in order not to be heat. We have to provide space for our traders to breathe and evolve in such a way that it will definitely end up giving profit hit even of few pips e.g. 30. I am not fond of huge R:R:R if the SL is pretty close to a support and the price grabs the liquidity trapping us and then reverses on the way to TP.
Good luck1!
My idea on Eurjpy with layered and incremental TP levels. Follow your own R:R:R rules and do not trade blindly.
And please, do not forget that we are retail traders, with limited access to the right tools like banks. So, we have to adjust our Stop loss levels far away from the most predictable areas in order not to be heat. We have to provide space for our traders to breathe and evolve in such a way that it will definitely end up giving profit hit even of few pips e.g. 30. I am not fond of huge R:R:R if the SL is pretty close to a support and the price grabs the liquidity trapping us and then reverses on the way to TP.
Good luck1!
Trade closed: target reached
+150 pips profitNote
besides sl I forgot to mention to adjust the lot sizes
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.