1. There is a pattern on M5
2. This trade is with with the H4 Trend
3. Good risk to reward of 1:2.5
4. Stop loss of 70 pips
5. Quick trade as this is likely to come back down so take half profit at M15 Overbought
2. This trade is with with the H4 Trend
3. Good risk to reward of 1:2.5
4. Stop loss of 70 pips
5. Quick trade as this is likely to come back down so take half profit at M15 Overbought
Trade closed: stop reached
This was an optimistic trade.1) The pattern was on M5 and was really small.
2) The retracement was quite poor and hence it needed to fall more
3) Would have been better if we took at a lower level which would have given the desired result.
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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.