As an alternative, you can choose your TP based on the ATR of your favorite chart:
ATR = Average True Range
1 day = 20 pips
4 hours = 10 pips
1 hour = 5 pips
15 minutes = 3 pips
5 minutes 2 pips
TECHNICAL ANALYSIS:
The XAGUSD pair is currently trading in a range between 26.14 and 22.11. Price Action has been consolidating in this range since April 24, 2023.
Now, that PA has bounced off of our TP1, we should be good to go for more downtrend action.
INDICATORS:
P2P INDi — Annotates Curve Analysis
— Pivot High @ 28.90
— Pivot Low @ 12.75
— Based on this curve, PA is bearish
TREND
— Momentum: Big Picture Downtrend
— Price Action: Downtrend
— CounterTrend: NO (conservative trade)
ATR = Average True Range
1 day = 20 pips
4 hours = 10 pips
1 hour = 5 pips
15 minutes = 3 pips
5 minutes 2 pips
TECHNICAL ANALYSIS:
The XAGUSD pair is currently trading in a range between 26.14 and 22.11. Price Action has been consolidating in this range since April 24, 2023.
Now, that PA has bounced off of our TP1, we should be good to go for more downtrend action.
INDICATORS:
P2P INDi — Annotates Curve Analysis
— Pivot High @ 28.90
— Pivot Low @ 12.75
— Based on this curve, PA is bearish
TREND
— Momentum: Big Picture Downtrend
— Price Action: Downtrend
— CounterTrend: NO (conservative trade)
Bình luận:
✨MODIFICATION✨
XAGUSD (1D)
SLO @ 23.40 ⏳
SSO @ 22.45 ⏳
FINAL TP @ 19.55
💲PROFIT POTENTIAL @
Share Price: +$2.90
Percentage: +12.92%
Pips: +29,000 pips
✨MODIFICATION✨
XAGUSD (1D)
SLO @ 23.40 ⏳
SSO @ 22.45 ⏳
FINAL TP @ 19.55
💲PROFIT POTENTIAL @
Share Price: +$2.90
Percentage: +12.92%
Pips: +29,000 pips
Professor C. E. Ward
Share Price: +$6.24450
Percentage: +28.10%
Pips: +62,455 pips