Follow the trend. Limit risk. Trail stop until the market says different.
50 pips risk pullback limit entry at support of the last HH stop below last HL
Looks like the daily timeframe support area could be tested I have a limit order and 50 pips risk to my stop loss.
A couple other pairs are looking dollar long to me so I'm being cautious here.if this support holds Im in.
The guy with profit targets has what? a crystal ball?
Cant predict the future. Follow with stop orders and get trends for all their worth.
"Follow the trend to the end when it bends" Ed Seykota
Trend change confirmed on the close of this candle. Follow it. Trail stops. You can't know when a trend will end until it happens. No profit targets!
100 pips risk "This ain't clipping coupons. No risk, no return. No balls, no babies." -Anonymous
I like the lows of the 15'th which is roughly 106.90. Risking 50 pips
Trend following is the full package. Enter and exit rules, Risk management, no indicators needed just the price. Modern day tape reading.
I have a limit order on the pullback to the 1.085 area so I can catch that 50 pips risk. its not worth it otherwise to me. "Never underestimate the power of doing nothing." Winnie the Pooh
"The river meanders because can't think." Richard Kenny
You might want to wait for a break of those recent big lows from April but I got in already. I can only trade what I see not what I hope will happen. 50 pips risk. "If all it took to beat the markets was a Ph.D. in mathematics, there'd be a hell of a lot of rich mathematicians out there." Bill Dries
looking like a pullback to resistance in a longer term down trend. 75 pips risk.