Always have a plan and stick to it:
- A zone is a zone until it has been nullified
- Don't chase trades, you only end up increasing your risk
Here on $EURAUD I managed to bag a bunch of pips on playing zones, but initially lost out because I moved my stop too early on my second lot (corrected this on later trades to allow my trades to run to targets), and didn't...
At controlling candle on 60mins from 12th May prior to sell off, take a short position here and place stop above current day’s high at 2937, entry at 2931, target 2907.
Risk: 6
Reward: 24
R:R 1:4
Ongoing talks with Crimea and US data due today, plus FOMC tomorrow will see some interesting movements in the NQ.
Keep stops a couple of points away from zone to take in to account the volatility.
Ranges are given in order to go long or short on the S&P.
We have to keep in mind Crimea and US data will swing it.
Look for 2:1 to take half off and then monitor the rest.
