Entry and Trade Management
Reference and Entry on 4H Price was at the supporting TL of the range. Stop buy order triggered and immediately went to the top of the range where it was the shift point.
Stop loss already shifted to break even almost immediately after trade was triggered.
Trade Plan: If price bounces back to entry point/support, breakeven. If price breaks out, good. That was the idea of the trade, to be in a position where the break out opportunity can be taken while at the same time keeping risk to a minimum.
1% capital risked for potentially 7.5R.
Entry: 1.6353 | Stop loss: 1.6353 | Target Profit: 1.75
Psychology and emotions – Risk kept to a minimum by shifting to BE ASAP. No thoughts on this.
Trade ran all the way, almost hit take profit. Currently trailing the stops.
TP hit – 7.5R