EURGBP Bearish Reversal
A Bullish Divergence on the RSI for EURGBP, indicating potential upward movement in the currency pair.
To take advantage of the anticipated bullish trend, we will place a Buy Stop order above the last Lower High (LH). This ensures we enter the trade once the breakout occurs, confirming the upward momentum
Risk Management:
We will strictly allocate a 2% risk of our trading capital for this trade, adhering to prudent risk management principles.
Profit Targets:
Our objective is to achieve a total gain of 3% on this trade. We will set two take-profit levels (TP1 and TP2) to secure profits during the trade.
Trade Progression:
a. TP1: Upon reaching TP1 and gaining 1%, we will promptly adjust the Stop Loss to break even, turning the trade into a risk-free position.
b. TP2: We will allow the trade to continue towards TP2, aiming to maximize potential gains while protecting profits with the adjusted Stop Loss.
Important
We have to modify our SL if it goes further down and positions accordingly
To take advantage of the anticipated bullish trend, we will place a Buy Stop order above the last Lower High (LH). This ensures we enter the trade once the breakout occurs, confirming the upward momentum
Risk Management:
We will strictly allocate a 2% risk of our trading capital for this trade, adhering to prudent risk management principles.
Profit Targets:
Our objective is to achieve a total gain of 3% on this trade. We will set two take-profit levels (TP1 and TP2) to secure profits during the trade.
Trade Progression:
a. TP1: Upon reaching TP1 and gaining 1%, we will promptly adjust the Stop Loss to break even, turning the trade into a risk-free position.
b. TP2: We will allow the trade to continue towards TP2, aiming to maximize potential gains while protecting profits with the adjusted Stop Loss.
Important
We have to modify our SL if it goes further down and positions accordingly
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