As per my previous post I explained to you that we would likely see a move above 1.09 area where we had a newly formed Weekly SUPPLY/SELL zone from the current move down.
This area has got respected and as per my previous post I would take a position if my TRFX indicator give a higher time frame signal we got that on the 8hr chart around 1.092 and the position is moving nicely.
How I will manage this position will be once price reaches 1.08 I will cut 50% of my position and move my STOP LOSS down towards the entry price maybe a little above it.
And contine to trail the position down towards the 1.04 area bottom of the MONTHLY range lets see how we go :)
Check the related post to understand the reasons behind the position
This area has got respected and as per my previous post I would take a position if my TRFX indicator give a higher time frame signal we got that on the 8hr chart around 1.092 and the position is moving nicely.
How I will manage this position will be once price reaches 1.08 I will cut 50% of my position and move my STOP LOSS down towards the entry price maybe a little above it.
And contine to trail the position down towards the 1.04 area bottom of the MONTHLY range lets see how we go :)
Check the related post to understand the reasons behind the position
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Join Telegram group -t.me/+T7V_JSiKKsliMTJl
30 Days, 30 Ways to 10X Your Trading Results Get free daily tips to transform your mindset, strategy, and consistency.
Sign up here → thetradingedge.net/30days
Related publications
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.