Seems like an orderly retracement
Aggiornato
Since the Cable is relatively expensive to trade, and the stop-loss is wide, I am only using a half position here.
This has been an orderly retracement to the Kijun-sen and looks like it could be poised to breakout again. Future kumo is bullish and the 3/10 oscillator is below zero. Wait for a Tenkan-sen turn-up hopefully at the same time the 3/10 breaks above zero. The sour note here is the CMF(40) is bearish.
Entry: Look to be long @ 1.4530 with an initial target of 1.4770 and if that is breached with strength, expect target two to be around 1.4980. Initial stop-loss should be around 1.43744 giving us a 1.53 risk reward on the first half and 2.89 R/R if the second half materializes.
Take Profit: Evaluate on price action when and if price reaches target one, reduce or tighten stop losses @ 1.4770
This has been an orderly retracement to the Kijun-sen and looks like it could be poised to breakout again. Future kumo is bullish and the 3/10 oscillator is below zero. Wait for a Tenkan-sen turn-up hopefully at the same time the 3/10 breaks above zero. The sour note here is the CMF(40) is bearish.
Entry: Look to be long @ 1.4530 with an initial target of 1.4770 and if that is breached with strength, expect target two to be around 1.4980. Initial stop-loss should be around 1.43744 giving us a 1.53 risk reward on the first half and 2.89 R/R if the second half materializes.
Take Profit: Evaluate on price action when and if price reaches target one, reduce or tighten stop losses @ 1.4770
Trade attivo
I should have posted the this update several days ago when the price climbed through the buy target. I am not actually in this, but am following through on an idea. Just food for thought so to speak.Commento
Moving stoploss to under the low of today's candle would be prudent here (1.4670) locking in the 142 pips we have thus farTrade chiuso: stop raggiunto
walked away with some profit...Declinazione di responsabilità
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