trading back to the mean
Trade closed: target reached
Risk to Reward of 1:3 This could go a lot higher as we have bounced quite convincingly off a Daily Trend Line.
On my Forward test I am going to hold on for a bigger daily move of AB=CD and my SL is at BE.
It's great to see I picked a good R:R entry and identified the most obvious place for a stall at 1.2500
Note
When I opened this trade the Non Commercials were short the GBP and Net Long the USD. Going against these means I should only target the mean or just wait for a trade in the opposite direction
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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.