We had a nice +33 pip move today after the ISM Non-Manufacturing PMI report today, with our EURUSD 5 Minute chart. Here’s a look at this trade with MT4.
It’s not that the EURUSD is the only forex pair we trade with SST. By no means is it. There are many pairs that trade great, on various timeframes. BUT, this major pair HAS been great on many timeframes. Check out this follow up to a trade we got in sync with last week.
- The trade triggered in the week ending July 16th. We got in sync with it and jumped on board last week, the week of Sept 24th.
- It has zoomed passed our initial ‘trade mgt zone,’ and you can see how the stop moved up to take the risk off the trade.
- By the end of last week, an optional add-on entry appeared. This add-on position gives us a chance scale in at another entry with its own unique targets.
- That add-on position just triggered in at 1.3847
- The reversal trade (pink) has a Target at 1.4589; 1517 pips
- The add-on trade (cyan) has a target at 1.5475; 1629 pips
- The prior short trade made + 3284 pips with two positions; a fixed target and a trailing stop.
- If you include an additional trailing position for each, you can see how large this trade could be. This one also has the add-on trade.
- Caution: This is a weekly chart and it is wise to NOT risk more than 2% on the trade.