Quick update regarding euro charts, so Euro rises to our anticipated target without any retests so now we have three scenarios,
1st: price can break above the resistance zone and make a retest and go to our next target
2nd: we could see a reaction at this level and fall down to the top wedge of the channel then rise back up
3rd: we could see more downward pattern to the descending wedge line
The strategy behind opening any position is to make sure your win/loss ration is 3/1 i.e TP should be 10% and your stop loss 3%
I suggest you do the same, so if you do 10 trades you only need 3 of them to be successful to gain a profit on your whole trades
1st: price can break above the resistance zone and make a retest and go to our next target
2nd: we could see a reaction at this level and fall down to the top wedge of the channel then rise back up
3rd: we could see more downward pattern to the descending wedge line
The strategy behind opening any position is to make sure your win/loss ration is 3/1 i.e TP should be 10% and your stop loss 3%
I suggest you do the same, so if you do 10 trades you only need 3 of them to be successful to gain a profit on your whole trades