Saw this while at the ATW Bali Retreat
Updated
This setup is based on an RSI break above 70 corresponding to a recent breakout. It is positioned so that the trader can bag 2x reward to risk, but have the opportunity to ride a continuing trend if the Oil Inventories report pushes the dollar higher today. Basic trade setup with 43 pip loss and 78+ pip target gives only a 34% probability of winning, but provides a strong possibility that it could run much more than 80 pips. Since it is based on 4h candles, you can manage the trade in a very leisurely, low-maintenance manner.
Trade closed: stop reached
First trade of what I hope to be 10 more of similar variety, we'll see if the collection are positive after 10, but the first one starts off with a 43 pip loss after being stopped out.
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