Took this EURUSD on 5th August, Tuesday. It was a late entry as I was all focused on GBPUSD which took me out at a loss. I took it after it has moved about 17pips, so SL was about 30pip. Since it was a late entry, I tested it with a very small lot.
It moved away from 21ema
89sma above market, thus bearish (on both H4 and Daily)
TP was at the diagonal TL about 80pips
Comments?
Another question her is about taking profit and adjusting stoploss. I have in the chart SL1 and SL2.
SL1 = Initial SL at the time of entry
SL2 = Adjust SL1 to SL2 when the trade was making 12pips or so and for the sake that I could go to sleep in peace.
My TP is about 80pips. And it is at present at a profit of about 30pips. A problem I face here, as always, is where to put the SL. At present at SL2, I would make about 8pips should the trade be taken out. So I need your advice how should I set the SL here so that should my trade be taken out, I would not lose everything. There is a tendency that price will pull back to 21ema and if I set my SL there, I would be taken without gaining any pips.
Thanks.
Nicholas
It moved away from 21ema
89sma above market, thus bearish (on both H4 and Daily)
TP was at the diagonal TL about 80pips
Comments?
Another question her is about taking profit and adjusting stoploss. I have in the chart SL1 and SL2.
SL1 = Initial SL at the time of entry
SL2 = Adjust SL1 to SL2 when the trade was making 12pips or so and for the sake that I could go to sleep in peace.
My TP is about 80pips. And it is at present at a profit of about 30pips. A problem I face here, as always, is where to put the SL. At present at SL2, I would make about 8pips should the trade be taken out. So I need your advice how should I set the SL here so that should my trade be taken out, I would not lose everything. There is a tendency that price will pull back to 21ema and if I set my SL there, I would be taken without gaining any pips.
Thanks.
Nicholas