We saw a consolidation in price of euraud last week after Brexit. This consolidation provides a much better entry for long term investors. I am planning a sell on this pair with over 1000pips profit in view.
Therefore, i am a placing 2 limit orders at 50% retracement of last week candle and 61.8% of the same last week candle. Also, i will place a sell stop order some pips below last week candle.
Below is the chart of Ea weekly candle with the area in the rectangular box beeing my reason for the sell.
Entry: At 1.4770
Stop loss at 1.5077
Take profit at 1.3713
Fib last week candle and determine the other 2 entries maintaining the same stop loss and take profits levels.
Therefore, i am a placing 2 limit orders at 50% retracement of last week candle and 61.8% of the same last week candle. Also, i will place a sell stop order some pips below last week candle.
Below is the chart of Ea weekly candle with the area in the rectangular box beeing my reason for the sell.
Entry: At 1.4770
Stop loss at 1.5077
Take profit at 1.3713
Fib last week candle and determine the other 2 entries maintaining the same stop loss and take profits levels.
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