Since last trade lost for for less pips than it might have we have room for some hedging strategy, SL has to be at previous entry and TP has to be at 1.126
we will give this trade 3 Hours to make it's move.
After 3 hours we will make decision to either continue with the trade
OR closing a 70% and moving SL to break even or just above
GOOD THING ABOUT THE TRADE IS IT ONLY HAS TO WORK 20% OF THE TIME TO BE PROFITABLE
I will take those odds anyday
Reason to take trade:-
Broke Ichimoku cloud on the uptrend
Hedging our lost position
RSI is not oversold
Broke 200SMA
we will give this trade 3 Hours to make it's move.
After 3 hours we will make decision to either continue with the trade
OR closing a 70% and moving SL to break even or just above
GOOD THING ABOUT THE TRADE IS IT ONLY HAS TO WORK 20% OF THE TIME TO BE PROFITABLE
I will take those odds anyday
Reason to take trade:-
Broke Ichimoku cloud on the uptrend
Hedging our lost position
RSI is not oversold
Broke 200SMA