As you can see above, We've had a nice pop to the upside in this pair as hoped for. As previously mentioned; we really need to be looking for at least 1:2 risk reward ratio for these patterns and indeed one of the main rationales for doing this trade in the first place was to join the prevailing trend and possibly even hope for more reward. Accordingly I have trailed my stop to break-even for now and will be looking to add more if we can break through the most recent peak at 1.33220. If, however, price comes all the way back to my entry and stops me out this will signify a steep rejection of previous resistance and a possible reversal of direction in which case I will be happy to exit my long.
No comments:
Post a Comment