by Remy N, February 17, 2021
by Remy Njoroge February 17, 2021
EUR/USD
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Short
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D1
Table of Contents
D1
The USD has been catching a bid due to market sell off in the US as sentiment turns to probable exhaustion in the indices.
USD is a safe haven currency so many traders are now starting to take position in it. Daily time frame on EURUSD is more bearish than before hence could go much lower before bouncing back up
Sell Price: 1.20880
SL: 1.21000
TP: 1.18680
12 points risk for a 200 point reward
EUR economic data throughout the week and TP1 at 1.19880
If TP1 is breached significantly, hold sell position till 1.18880
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Sentiment on this trade has currently changed and is best to close sell positions till later when a better sell zone presents itself; USD is currently being sold across all G8 currencies.
Your SL is really tight for a trade on a daily TF which might be easily stopped out for me but anyway it’s giving a fantastic RR for you!
Hey Maverick
I was actually trading on H1 & H4 while using D1 to see long term capability of the trade. So the SL was initially based on H1 but TP is based on D1
Hi Remy!
I Cought a similar trade! my profit is a bit closer. I am in profit about 60 pips
also Maverick has a similar trade
Maverick, the Prop Firm? Where is your TP Saul? I had mine initially at 1.19880 but moved it again for an extra 100 points. It will definitely not go down straight to where I plan it to reach, so might hedge the position so that I don’t lose the profits, then as soon as I see tendency to go lower, I’ll close the buy hedge and continue selling the pair
not the prop firm LOL, there is another trader who posted exactly the same setup.
my first TP will be on 1.2000, I may take partial profits there and let the rest running,
I like the heging idea
LOL, I later saw the name Maverick as one of the trade ideas as soon as I sent that post, my bad.
Cheers, hedging has proved better for me than taking partial profits, I always seem to end up losing a lot of potential profits when I usually do that so I’ve stuck to hedging these days as I can make short term profits and continue with the trend later or at least I lose a little on the hedge knowing that if it doesn’t work, the trend is strong and likely to go further