Setup:
It was noted that EURGBP could be heading towards to 0.88128
Our setup is complemented by the following:
1. Multiple timeframe trend analysis
2. Divergence
3. Head & Shoulders pattern
Approach:
Our trade strategy is as follow: We will open two consecutive trades, they will both have the same stop loss but different take profits.
Trade 1:
Entry: 0.87600
SL: 0.87267
TP: 0.87773
Trade 2:
Entry: 0.87600
SL: 0.87267
TP: 0.88128
It should be noted that once TP1 is hit, we will move the stop loss of trade 2 to breakeven.
Risk & Reward:
TP1 - 1:0.5
TP2 - 1:1.6
Total Risk:
2% or 66 PIPS
Total Reward:
2.1 % or 70 PIPS
** It should be noted that this trade don't consist of high reward. However, the setup is still valid.
Good Luck :-)
It was noted that EURGBP could be heading towards to 0.88128
Our setup is complemented by the following:
1. Multiple timeframe trend analysis
2. Divergence
3. Head & Shoulders pattern
Approach:
Our trade strategy is as follow: We will open two consecutive trades, they will both have the same stop loss but different take profits.
Trade 1:
Entry: 0.87600
SL: 0.87267
TP: 0.87773
Trade 2:
Entry: 0.87600
SL: 0.87267
TP: 0.88128
It should be noted that once TP1 is hit, we will move the stop loss of trade 2 to breakeven.
Risk & Reward:
TP1 - 1:0.5
TP2 - 1:1.6
Total Risk:
2% or 66 PIPS
Total Reward:
2.1 % or 70 PIPS
** It should be noted that this trade don't consist of high reward. However, the setup is still valid.
Good Luck :-)
Trade closed: target reached
+0.5%
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.