USDMEX bearish wedge inside range
Updated
At the top of a rising(bearish) wedge inside of ascending bull-flag range. Provides for wonderful R&R. Entry and stop as shown. I am doing 50% now and 50% at another touch of the top of the wedge. Safe trading.
Trade active
Second entry hit, currently in profit. Stop moved to wedge high. Decreased risk about 1/3 with the second entry taken into consideration. If you understand the risk reward related, now would be the time to increase position size. Do not take a loss on the total position if you plan to increase in this area outside of the wedge. As always, safe trading.Comment
Stop to entry. Enjoy risk free profit.Comment
Just realized I put USDMEX instead of USDMXN. Bitmex always on the brain even when I'm trading forex. LMFAOComment
Halfway to bull flag range target.Comment
Second leg down, I would think about taking some profit or putting a tight stop on part of your position. Want to preserve gains made, no need to get greedy on a profitable trade.Comment
I took 1/3 profit at lows, moved 1/3 of my stop to 20.31, and the final third my stop was moved to 20.35.Comment
took out profit stop one. 1/3 of position left for a runnerTrade closed: stop reached
Runner stop hit, good profit on this one.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.