Setup:
It was noted that EURUSD could be dropping to 1.14599
Our setup is complemented by the following:
1. Multiple timeframe trend analysis
2. Divergence on H1.
Approach:
Our trade strategy is as follow: We will open two consecutive trades, they will both have the same stop loss but different take profits.
Trade 1:
Entry: 1.17099
SL: 1.17790
TP: 1.15916
Trade 2:
Entry: 1.17099
SL: 1.17790
TP: 1.14599
It should be noted that once TP1 is hit, we will move the stop loss of trade 2 to breakeven.
Risk & Reward:
TP1 - 1:1.6
TP2 - 1:3.6
Total Risk:
2% or 140 PIPS
Total Reward:
5.2 % or 366 PIPS
Good Luck :-)
It was noted that EURUSD could be dropping to 1.14599
Our setup is complemented by the following:
1. Multiple timeframe trend analysis
2. Divergence on H1.
Approach:
Our trade strategy is as follow: We will open two consecutive trades, they will both have the same stop loss but different take profits.
Trade 1:
Entry: 1.17099
SL: 1.17790
TP: 1.15916
Trade 2:
Entry: 1.17099
SL: 1.17790
TP: 1.14599
It should be noted that once TP1 is hit, we will move the stop loss of trade 2 to breakeven.
Risk & Reward:
TP1 - 1:1.6
TP2 - 1:3.6
Total Risk:
2% or 140 PIPS
Total Reward:
5.2 % or 366 PIPS
Good Luck :-)
Trade closed: stop reached
Trade active
We will re-enter the trade:Trade 1:
Entry: 1.17099
SL: 1.17790
TP: 1.15916
Trade 2:
Entry: 1.17099
SL: 1.17790
TP: 1.14599
Note
We will re-enter the tradeOrder cancelled
Trade active
Our 2nd entry has hit Tp1.
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.
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.