Hi fellow traders,
Not to publish after the fact, I'm still learning this system, but just to share my trade today.
As I've mentioned, my bias is through EMAs 16 and 21. As seen from first diagram , the 16EMA was below 21 EMA, thus giving me the bias as down. It was down 5 hours preceding the London market.
As the bias was down, my signal was received at 0812GMT entry @ 1.2681. My SL was previous high using the 1M chart and I got 1.2693 as shown by the Red line. After 3:1 ratio, my target was 1.2645. The trade went up and I took another position with another short signal. Target was achieved.
I knew there was German figures at that time, but I think we shouldn't let that affect the system. This system works also by the RR, so we must try to trade everyday. As in today's case, I was also lucky Germans were in red.
Not to publish after the fact, I'm still learning this system, but just to share my trade today.
As I've mentioned, my bias is through EMAs 16 and 21. As seen from first diagram , the 16EMA was below 21 EMA, thus giving me the bias as down. It was down 5 hours preceding the London market.
As the bias was down, my signal was received at 0812GMT entry @ 1.2681. My SL was previous high using the 1M chart and I got 1.2693 as shown by the Red line. After 3:1 ratio, my target was 1.2645. The trade went up and I took another position with another short signal. Target was achieved.
I knew there was German figures at that time, but I think we shouldn't let that affect the system. This system works also by the RR, so we must try to trade everyday. As in today's case, I was also lucky Germans were in red.