This trade was triggered last Monday using my 2019 strategy (see chart details at the end of this)
This is a very risky trade since it's playing the last juice of momentum for
EURGBP
before the pair has the potential to go down fast as it's already in the Supply zone, though it's about to break the zone, it is approaching the next monthly supply zone.
Hope for the best!
EP: 0.89434
TP: 0.90029
SL: 0.8909
See related chart for my 2019 strategy.
This is a very risky trade since it's playing the last juice of momentum for
EURGBP
before the pair has the potential to go down fast as it's already in the Supply zone, though it's about to break the zone, it is approaching the next monthly supply zone. Hope for the best!
EP: 0.89434
TP: 0.90029
SL: 0.8909
See related chart for my 2019 strategy.
Trade closed manually:
As we see the momentum is really losing steam, we closed the trade early ahead of news events and bagged enough pips.
Comment:
snag.gy/bUgnl4.jpg
Comment:
Big banks are playing with retail traders with big candle to the upside.
We'll see where they want the prices go and we'll just take a hitch of this big ride.
We'll see where they want the prices go and we'll just take a hitch of this big ride.
Comment:
Trade closed: target reached:
This trade reached its target. But it's not worth the risk for the following reason:
1. Momentum has died down
2. Volatility increased a lot
3. It took 15 days just to bank ~60 pips
4. With the duration of the trade, swaps would be eating the little profits.
So it's good that we closed out earlier when the market showed signs of #1 above. Plus the undeniable divergences the market has shown.
Lesson:
Not all opportunities are tradeable. Some are not worth the time.
Only go after the big moves -- bigger momentum, smaller volatility. Others are just noise.
1. Momentum has died down
2. Volatility increased a lot
3. It took 15 days just to bank ~60 pips
4. With the duration of the trade, swaps would be eating the little profits.
So it's good that we closed out earlier when the market showed signs of #1 above. Plus the undeniable divergences the market has shown.
Lesson:
Not all opportunities are tradeable. Some are not worth the time.
Only go after the big moves -- bigger momentum, smaller volatility. Others are just noise.
