Keep in mind that the sentiment of the higher time frames is still bearish, and this potential trade is only for a short period to lock in a few profits.
The 3 criteria used for this trade are:
1. Break in downtrend.
2. Inverse Head and shoulders pattern
3. CCI (50) above 100.
The setup:
Buy to enter at 1.0905
Stop loss at 1.6885
target 1 at 1.1065
target 2 at 1.1165
The trade management
After the entry, there is always a possibility of a RETEST or a PULLBACK as shown on the chart, this is common with inverse head and shoulder's patterns. Please keep that in mind while placing your trade.
Close 50% of your position if target 1 is reached, and then move the stoploss order to breakeven where you entered. (1.0905)
If target 2 is reached then exit the remaining position.
trade safe, do not over leverage your positions.
As Always what you've read does not constitute Investment Advice. You alone are responsible for your own actions.
The 3 criteria used for this trade are:
1. Break in downtrend.
2. Inverse Head and shoulders pattern
3. CCI (50) above 100.
The setup:
Buy to enter at 1.0905
Stop loss at 1.6885
target 1 at 1.1065
target 2 at 1.1165
The trade management
After the entry, there is always a possibility of a RETEST or a PULLBACK as shown on the chart, this is common with inverse head and shoulder's patterns. Please keep that in mind while placing your trade.
Close 50% of your position if target 1 is reached, and then move the stoploss order to breakeven where you entered. (1.0905)
If target 2 is reached then exit the remaining position.
trade safe, do not over leverage your positions.
As Always what you've read does not constitute Investment Advice. You alone are responsible for your own actions.
