Fellow Traders,
Yesterday, our long position on EURAUD was closed due to the prevailing strength of the Australian dollar. However, today presents a fresh opportunity for a potential long position.
We anticipate the London session to catalyze momentum in favor of the euro, offering a favorable environment for us to execute a trade.
Our target for this trade is set at 1.66050, with a prudent stop loss positioned at 1.64680. This configuration results in a risk-reward ratio of 4.5%, aligning with our disciplined risk management approach.
As of now, we are in the trade and experiencing a minor drawdown. It is imperative to adhere to our risk management principles throughout the duration of this trade.
Remember, managing risk remains paramount in our trading endeavors.
Best regards,
Yesterday, our long position on EURAUD was closed due to the prevailing strength of the Australian dollar. However, today presents a fresh opportunity for a potential long position.
We anticipate the London session to catalyze momentum in favor of the euro, offering a favorable environment for us to execute a trade.
Our target for this trade is set at 1.66050, with a prudent stop loss positioned at 1.64680. This configuration results in a risk-reward ratio of 4.5%, aligning with our disciplined risk management approach.
As of now, we are in the trade and experiencing a minor drawdown. It is imperative to adhere to our risk management principles throughout the duration of this trade.
Remember, managing risk remains paramount in our trading endeavors.
Best regards,