Inverse head and shoulders forming on the 15 minute... this trade has a 1:2 risk/reward ratio, and is more of a long "scalp" short "swing" sort of time frame. I expect TP1 (first circle) to hit in around 1-3 hours, and TP2 (full trade range) in 3-8 hours.
I take profit on 1/3 of trade at TP1, set SL at BE, and then usually close the 2nd 1/3 of position at TP2. I will let 1/3 run higher if we break out.
I take profit on 1/3 of trade at TP1, set SL at BE, and then usually close the 2nd 1/3 of position at TP2. I will let 1/3 run higher if we break out.
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update on this one... Tp1 was obviously hit, and set SL to BE at that point. then the remaining 2/3 of the position was stopped out and Break Even. So slight gain on this one before getting stopped out on majority of the trade