HERE WE GO AGAIN, TESTING THE 109.70 REGION
Updated
Morning Traders,
I am not going to delve into this too much as my post from last week covers my thinking behind this. We are agian testing the 109.70 resistance which has been tested multiple times recently.
I dont normally take out a trade of a friday unless its a short target T/P. But if this goes the correct way then i dont mind holding it or possibly closing the trade in profit at the end of the days trading before the markets close.
The China/US trade deal could blow this trade out the water and we stop out within two 4H candles, but the risk reward is very good and i am happy to execute this trade, i made enough pips from my previous trade on this pair to take the loss on this one, if things dont go to plan.
Trade safe people and always prepare for all outcomes.
I am not going to delve into this too much as my post from last week covers my thinking behind this. We are agian testing the 109.70 resistance which has been tested multiple times recently.
I dont normally take out a trade of a friday unless its a short target T/P. But if this goes the correct way then i dont mind holding it or possibly closing the trade in profit at the end of the days trading before the markets close.
The China/US trade deal could blow this trade out the water and we stop out within two 4H candles, but the risk reward is very good and i am happy to execute this trade, i made enough pips from my previous trade on this pair to take the loss on this one, if things dont go to plan.
Trade safe people and always prepare for all outcomes.
Trade closed manually
Closed this trade last thing Friday for a couple of pips profit. The Famous China/US trade deal gained some momentum over the weekend and would have smashed this trade out the water as anticipated.
Again though this appears to be smoke and mirrors and a short position will again be the favourable trade soon.
Trade safe people.
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