Long or Short: Long
Entry Point: Market (near 1.0400)
Stop Loss: 1.0340
Profit Target: 1.0500
Risk Ratio: 1.67:1
Risk involved: 1% of account
Indicators: None
Rationale:
Technical - previous support and resistance at the 1.0400 area, long wick from Friday. Good profit target at the 1.0500 resistance.
Fundamental - appetite for high-yielding comdolls, good Australian, Canadian, and Chinese data.
Trade Adjustments:
I’ll move stop to BE if it goes up by 50 pips.