A significant upside break of structure (40.9 pips) followed with an ema crossover, finding support on Fib level 38 and the EMA 14. Will be expecting prices to retest the high at Fib level 0 for a retest, if broken it will potentially continue higher to 1.31 level; if it was rejected it could retrace towards the Fib level 62-79 for an entry Long opportunity at the Supply and Demand Zone (Fib 62-79). Targets 40 pips.
Risk/Reward = 1/1.
SL & TP = -/+10 pips.
Lot = 10
Will take 3 positions with 3.33 lots respectively (10/3=3.33).
Exit =
1. Position 1 exit at 10 pips and continue to monitor the other 2 running positions.
2. Adjust the stop-loss to +1 pips once price moved over +10 pips.
3. Take the second position out on 15 pips.
4. Set Trailing Stop( Spread + 5 pips) for the last position and continue to monitor it in the next session. (Steps: Move stop-loss to 10 pips and set 5 pips Trailing Stop)
Pips value = $3.33
Position 1 = 10 pips* $3.33 = $33.3 /3.33%
Position 2 = 15 pips* $3.33 = $ 49.5 / 4.95%
Position 3 = 15 pips + Running position exit
Position 3 will have a minimum of $49.5 profit or 4.95% plus a total of 25 pips potential gain ( $89 or 8.9%)
Total gain is a minimum of 10% with a maximum of 18.9%.
Risk/Reward = 1/1.
SL & TP = -/+10 pips.
Lot = 10
Will take 3 positions with 3.33 lots respectively (10/3=3.33).
Exit =
1. Position 1 exit at 10 pips and continue to monitor the other 2 running positions.
2. Adjust the stop-loss to +1 pips once price moved over +10 pips.
3. Take the second position out on 15 pips.
4. Set Trailing Stop( Spread + 5 pips) for the last position and continue to monitor it in the next session. (Steps: Move stop-loss to 10 pips and set 5 pips Trailing Stop)
Pips value = $3.33
Position 1 = 10 pips* $3.33 = $33.3 /3.33%
Position 2 = 15 pips* $3.33 = $ 49.5 / 4.95%
Position 3 = 15 pips + Running position exit
Position 3 will have a minimum of $49.5 profit or 4.95% plus a total of 25 pips potential gain ( $89 or 8.9%)
Total gain is a minimum of 10% with a maximum of 18.9%.
Trade closed: target reached
Position 1 took profit at 10 pips.Position 2 & 3 moved stop loss to +1 and get taken out with 11 pips in profit for both position.
A total of 32 pips gain.
Will see how it play out in the next London Session.
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.