This is part of my 2019 strategy (related chart below) that uses trend-following idea, supply & demand, Fibonacci retracements and COT analysis to confirm bias/momentum.
My trigger point (horizontal line) was broken while I am asleep. But I stick to my plan and didn't jumped out to enter the trade.
Instead, I placed a LIMIT ORDER with a hindsight that there is an upcoming news for EUR.
I am surprised that indeed the news triggered my order and came back down to my favor and shortly reached my initial target.
EP: 1.71926
TP: 1.70437
SL: 1.72697
With the initial target reached, I set my 1st trailing stop to 1.71518 (~40 pips below my entry price).
Stay tuned for updates related to this strategy and to this trade.
My trigger point (horizontal line) was broken while I am asleep. But I stick to my plan and didn't jumped out to enter the trade.
Instead, I placed a LIMIT ORDER with a hindsight that there is an upcoming news for EUR.
I am surprised that indeed the news triggered my order and came back down to my favor and shortly reached my initial target.
EP: 1.71926
TP: 1.70437
SL: 1.72697
With the initial target reached, I set my 1st trailing stop to 1.71518 (~40 pips below my entry price).
Stay tuned for updates related to this strategy and to this trade.
Note
Trailing stop set & letting profits run:snag.gy/D7a51V.jpg
Note
Market is having a pause. Setting trailing stop loss to our previous initial targetNote
Trailing stop moved to 1.70437 (our previous target)Next target is 1.69634
Note
~148 pips. Hoping our stops is not triggered pre-maturely.Trade closed: target reached
Trade is profitable. Trailing stop was triggered.
snag.gy/EQ3Bik.jpg
Looking for another re-entry.
EP: 1.69964
TP: 1.68926
SL: 1.70542
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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.