EURUSD, D1
Long or Short: LONG
Entry Point: 1.3652
Stop Loss: 1.3452
Profit Target/s: 1.4052
Reward-to-risk Ratio: 2:1
Risk percentage: 1%
Indicators used: RSI, Stochastic,
Trade Rationale: This trade has taken on basis of Technical. Well, the price is at the support level which was a resistance before which I marked on the image, and it was hold as support previously. Now, RSI is showing oversold and it’s rising above 30. Stochastic is also indicating that the price will come up. There is also a Morning Star Candlestick pattern. So, I’m going Long on EURUSD giving it a stop loss below the current low and targeting 2% gain from this trade.
Trade Adjustments: I’ll move the Stop loss to breakeven when it will be 200 pips of profit and maybe I can close 50% of my position there (Depends on price action).