We trade with the signals with 3 mini lots. However, this might differ from each individual’s risk appetite. You are encouraged to trade with demo account to test the results then you can trade live at your sole discretion. You need to complement with the technical indicators and candlesticks or Pivots/Support/Resistance levels in determining your entry. The trade ideas or forex signals only valid for today only.
How to trade with this signal?
- Depend on risk appetite of an individual.
- Trade from 1 mini lot to 3 mini lots. For this instance we trade with 3 mini lots.
- If reach first target profit of 20 pips, then close 1 mini lot.
- Shift the Stop Loss of the rest of the 2 mini lots at first target profit or at the opening of the lots.
- If reach second target profit of 40 pips, then close 1 mini lot.
- Shift the Stop Loss of the balance 1 mini lot at second target profit or at the closure of the first mini lot.
- If reach third target profit of 60 pips, then close the last mini lot.
- In the event the market goes to a reversal, we are still in profits.
Buy 3 mini lots of EUR/USD at 1.3320, SL: 1.3300 (20 pips), TP: 1.3340/1.3360/1.3380 (20/40/60 pips).
- Price goes up to 1.3340 (First target profit).
Close 1 mini lot and shift the SL for the remaining 2 mini lots at 1.3340 and ride the trend OR at opening of the lots at 1.3320.
- Price goes up to 1.3360 (Second target profit).
Close 1 mini lot and shift the SL for the remaining last mini lot at 1.3360 and ride the trend OR at the closure of the first mini lot which is at 1.3340.
- Price goes up to 1.3380 (Third target profit). Close the last mini lot.
Total Possible pips earned : 60pips – 120pips.
** You can always exit and take profits if there’s a potential reversal. Always close your position before a high news impact.
EUR/USD – The pair still range bound. Potential scalping levels are as follows –
- Pending Buy Limit Order – Buy EUR/USD at 1.1302 and take profit at 1.1322.
- Pending Sell Stop Order – Sell EUR/USD at 1.1315 and take profit at 1.1302.
GBP/USD – Price is bullish and break above 1.5480 expose to further highs.
- Pending Buy Stop Order – Buy GBP/USD at 1.5480 and take profit at 3 levels i.e 1st level is 1.5500, 2nd level is 1.5520 and 3rd level is 1.5560.
NZD/USD – Bearish momentum continues.
- Sell NZD/USD at 0.7460 and take profit at 0.7420.
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