Sometimes the simple trades are the best. Can anticipate a short to retest the breakout of the trend line. We have divergence on multiple time frames.
We can have a buy limit order around 1.12135 with stops around 1.11750.
For those of you that are sleeping, you can always wait for price to reach the trend line and seek bullish confirmation before entering. I will have an alert set when price reached close to my buy limit order - if PA does not match my criteria then I will not be entering the trade. However, the setup is as follows:
Buy Limit Order: 1.12120
Take Profit 1: 1.12500
Take Profit 2: 1.12800
Take Profit 3: 1.13000
Once each target had been met trade and risk management is key.
If price does breach and close with bearish PA below the entry level then the setup is no longer valid and new setups at support 1.11870 can be anticipated.
We can have a buy limit order around 1.12135 with stops around 1.11750.
For those of you that are sleeping, you can always wait for price to reach the trend line and seek bullish confirmation before entering. I will have an alert set when price reached close to my buy limit order - if PA does not match my criteria then I will not be entering the trade. However, the setup is as follows:
Buy Limit Order: 1.12120
Take Profit 1: 1.12500
Take Profit 2: 1.12800
Take Profit 3: 1.13000
Once each target had been met trade and risk management is key.
If price does breach and close with bearish PA below the entry level then the setup is no longer valid and new setups at support 1.11870 can be anticipated.
