Short Position in EUR/USD - Real-time Trade
Trade Title: Short Position in EUR/USD - Real-time Trade
Trade Analysis:
I'm currently in a short position in the EUR/USD currency pair, and I'll walk you through my analysis of the current market conditions. -0.2% draw down on this trade, now in profit and stops above recent FVG and in profit.
Trade Details:
Entry Point: I noted this level marked by the 👀 yesterday entering above here.This is my chosen entry point for a short position in EUR/USD.
Profit Targets:
My trade plan includes two profit targets, both aligned with significant levels within the volume profile value area, which I've identified on the chart:
First Target: I intend to take my first profit at the lower boundary of the volume profile value area.
Second Target: My secondary profit target is set deeper within the volume profile value area.
Trade Execution:
I'm in-trade
Monitoring and Adjustment:
I'll be diligently monitoring the trade's progress and watching for changes in market structure or any indications of liquidity voids causing fair value gaps. If I observe such developments, I'll consider making adjustments to my stop-loss:
Moving Stops: If there's a shift in market structure or a change in character, I'll aim to move my stop-loss to break-even levels to safeguard against potential reversals.
Trade Outcome:
If EUR/USD reaches my first profit target at the lower boundary of the volume profile value area, I'll take profits at that level.
I'll continue to observe the trade and adapt my strategy based on how the price behaves within the volume profile value area.
Should the currency pair reach my secondary profit target deeper within the value area , I'll also take profits at that level.
Conclusion:
This trade demonstrates a real-time decision-making process, highlighting the significance of considering current market conditions and analysis when executing a short position in EUR/USD. My chosen entry point and profit targets are based on the latest data and my analysis at this moment.
Remember that trading involves inherent risks. Staying informed about market conditions, adjusting your strategy as needed, and protecting your positions are essential elements of successful trading.
Trade Analysis:
I'm currently in a short position in the EUR/USD currency pair, and I'll walk you through my analysis of the current market conditions. -0.2% draw down on this trade, now in profit and stops above recent FVG and in profit.
Trade Details:
Entry Point: I noted this level marked by the 👀 yesterday entering above here.This is my chosen entry point for a short position in EUR/USD.
Profit Targets:
My trade plan includes two profit targets, both aligned with significant levels within the volume profile value area, which I've identified on the chart:
First Target: I intend to take my first profit at the lower boundary of the volume profile value area.
Second Target: My secondary profit target is set deeper within the volume profile value area.
Trade Execution:
I'm in-trade
Monitoring and Adjustment:
I'll be diligently monitoring the trade's progress and watching for changes in market structure or any indications of liquidity voids causing fair value gaps. If I observe such developments, I'll consider making adjustments to my stop-loss:
Moving Stops: If there's a shift in market structure or a change in character, I'll aim to move my stop-loss to break-even levels to safeguard against potential reversals.
Trade Outcome:
If EUR/USD reaches my first profit target at the lower boundary of the volume profile value area, I'll take profits at that level.
I'll continue to observe the trade and adapt my strategy based on how the price behaves within the volume profile value area.
Should the currency pair reach my secondary profit target deeper within the value area , I'll also take profits at that level.
Conclusion:
This trade demonstrates a real-time decision-making process, highlighting the significance of considering current market conditions and analysis when executing a short position in EUR/USD. My chosen entry point and profit targets are based on the latest data and my analysis at this moment.
Remember that trading involves inherent risks. Staying informed about market conditions, adjusting your strategy as needed, and protecting your positions are essential elements of successful trading.
Trade closed: target reached
Trade Targets Reached, left some on the table to run free with no risk.
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.