I put the 100 and 200 MA and the in to illustrate the trade idea. I dont actually use TA in my own trading. The price and looking back is enough.
Stops I always play out in three figures because I am essentially hitting a T shot into a multi position trade when I approach a trade idea, so I dont mind absorbing 130 - 200 pip stops. So I would probably put stops at 3750/3800.
Target should be open if Brexit goes well.
I did well on the last moves up North with GBPUSD , so if she doesnt play nice with me again its still ok.
Obviously this is an idea, not a signal. It is an Idea that I will be backing with my own money though.
Retail sentiment is mixed on EURUSD and GBPUSD, and I like to see Retail weighted to the opposite direction of my trade in either of these two or both for a bolder drive from the T box.
I would grade this entry as a 5 Iron off the T box. If we get roling down the fairways I will then perhaps go bolder with a solid entry in my anticipated direction.
March in review over the weekend left me feeling quite happy though. I made errors some big errors for sure, but when I was in play I really capitalized effectively.
search mykl on the myfxbook site, and the live account is called Justforexreal, its percentage returns and trade history only, all verified.
I will check in later and update.
But to put anyone interested in the picture I have bought in 4 times now cost averaging at 1.4082, My stops are at 1.3980.
Will be nice to hit a home run here, but of course we just dont know what will happen.