Set-up: Great resistance @ 1.1215
Certainty: 80%
Risk:Reward: Not determined but at least 1:1
Expected Value: HIGH
Risk Allocation: Initial: 1%-1.5%, Total: 2%-3%
Managing: We are waiting for a retracement where we can add 0.5%-1.5% more on the position. That will be the perfect entry. We could've waited instead of entering now but the possibility for a bull move without a retracement is high. We feel like 1.1215 is a strong resistance level. Once we make some profits we will get the right to get more aggressive. I'd risk more on this position but if it retraces than I won't be able to enter for a better price because we have to cap our initial total risk on every position.
Certainty: 80%
Risk:Reward: Not determined but at least 1:1
Expected Value: HIGH
Risk Allocation: Initial: 1%-1.5%, Total: 2%-3%
Managing: We are waiting for a retracement where we can add 0.5%-1.5% more on the position. That will be the perfect entry. We could've waited instead of entering now but the possibility for a bull move without a retracement is high. We feel like 1.1215 is a strong resistance level. Once we make some profits we will get the right to get more aggressive. I'd risk more on this position but if it retraces than I won't be able to enter for a better price because we have to cap our initial total risk on every position.