We got stopped on the previous OP short... and that is alright we cannot be 100% right in the market - highlighting the importance of risk management to remain liquid in the market and to continue trading. A few scratches are necessary along the way - if it was easy everyone would be a trader
What is next...
Entered another short last night and looking for the same trade previously. A tighter stop considering the market structure.
IF we get a clean reclaim of 1.58 we should look to reduce our position. Note that a clean reclaim of 1.58 cancels may lead to higher prices for the end of the week.
We will then let it play out for the rest of the week - or you can take scalp trades to end the week
Entry (personal) 1.5640
TP 1.40
TP 1.35
TP 1.20
SL 1.5925
Stay safe and never risk more than 1-5% of your capital per trade. The following analysis is merely a price action based analysis and does not constitute financial advice in any form.
What is next...
Entered another short last night and looking for the same trade previously. A tighter stop considering the market structure.
IF we get a clean reclaim of 1.58 we should look to reduce our position. Note that a clean reclaim of 1.58 cancels may lead to higher prices for the end of the week.
We will then let it play out for the rest of the week - or you can take scalp trades to end the week
Entry (personal) 1.5640
TP 1.40
TP 1.35
TP 1.20
SL 1.5925
Stay safe and never risk more than 1-5% of your capital per trade. The following analysis is merely a price action based analysis and does not constitute financial advice in any form.
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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.
Related publications
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.