Long or Short: Long
Entry Point: .9597
Stop Loss: .9500
Profit Target/s: .9700 .9800 .9900
Reward-to-risk Ratio: 1:1 to as much as 3:1
Risk percentage: 1%
Indicators used: Stochastics slow (14,3)
Trade Rationale:
I expect more USD strength with the positive ADP report. I read that srtess test results from Europe will be released in the coming week and that could cause risk aversion.
The chart shows very bullish pair with double bottoms on the 4-hour chart. Also I learned that Stochastics also show bullish divergence.
Trade Adjustments:
I will move my stop everytime I hit my PT