Sterling Dollar Day Trading the continuing Uptrend.
Because the next leg in the current shoulder formation is an upward leg. It is possible to continually take long entries at internal pivot levels shown on the 15-min Chart above to target 20-25 pts higher, and recur. Close out and stand out early Asian session tomorrow. (FMOC fundamental).
The Fixed risk measure shown (yellow) can be used for placing stops /hedges for each trade.
The thick dotted red line, is this week's upper limit. The market should be recessed tomorrow (FMOC - Dollar strength), so stand down, as a retraction into a shoulder level would enact tomorrow. But likely for the TREND to continue Thursday & Friday. (will keep posted).
Profitable Trading
Summerset.
The Fixed risk measure shown (yellow) can be used for placing stops /hedges for each trade.
The thick dotted red line, is this week's upper limit. The market should be recessed tomorrow (FMOC - Dollar strength), so stand down, as a retraction into a shoulder level would enact tomorrow. But likely for the TREND to continue Thursday & Friday. (will keep posted).
Profitable Trading
Summerset.