Overall movement: Downtrend
Looking for a trend continuation trade at the key area of 113.30
Now that the price has gone in the expected direction and after its first pull back to the Key area , one can trail the Stop Loss around the 114 area. Of course everything related to the trade management must be in accordance to the risk tolerance of each person
Now that the trade is triggered and that the price has given more price structure and signals one can start to trail the Stop Loss
At this point after the price has already achieved more than the 1:1 Risk :Reward one could take partial profits for example 50% of the position, this kind of trade management makes the trade free of any risk and one can see the price action developed without fear .... Lets see how it goes
Trade geschlossen: Ziel wurde erreicht:
The trade reached the target area.
For the moment we are out but it does not mean that the trend is over, now the task is to look for more trading opportunities