Trading Journey - Trade #2: Short USDCHF
Updated
- Key long term resistance area
- Price forms double top at that resistance and breaks the neckline
Shorted two orders @ 1.0069
TP- For 1st order : 1.0012
TP- For 2nd order : 0.9943
SL: 1.0107
Average Risk/Reward: 2.4
Risk of capital for trade: 1.5%
Note
TP1 hit. First order closed and stop loss moved to entry for second order.Note
1st Order Profit = +1.12%2nd Order Profit= Floating
Trade closed manually
Closed 2nd order at 0.9990. At the 50-days simple moving average which may support the price until the FOMC meeting tomorrow. Note
Trade Summary: Shorted two orders @ 1.0069
1st order reached TP1 at 1.0012
2nd order closed manually at the 50 days SMA at 0.9990
Risk of capital for trade: 1.5%
Profit for 1st order= 57 pips = 1.12%
Profit for 2nd order= 79 pips = 1.5%
Total Profit for Trade = 2.612%
Accumulated Profit For All Trade = 2.232%
Note: Trade profit depends on your choice of position size according to your risk per trade. The bigger the risk, the bigger the position size, hence the bigger the reward.
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