Current EURAUD cypher trade with a possible back to back set up
Was a bit late to share my current trade however we have a potential back to back cypher setting up.
Currently in a risk free trade as we have just taken targets 1 on the short cypher trade. This was an anchor legged cypher trade rather than an impulse legged cypher trade that I got involved in.
Sine we are already in a short cypher, we will not be front running orders on a long cypher. If our final target is hit then we will look for a conservative approach to get into the long cypher - if our rules are met. This isn't going to be a buy limit entry for me because of the back to back set up.
If my short final target is met (yellow line) I will update with entries, stops and targets for our potential long cypher.
Safe trading
Currently in a risk free trade as we have just taken targets 1 on the short cypher trade. This was an anchor legged cypher trade rather than an impulse legged cypher trade that I got involved in.
Sine we are already in a short cypher, we will not be front running orders on a long cypher. If our final target is hit then we will look for a conservative approach to get into the long cypher - if our rules are met. This isn't going to be a buy limit entry for me because of the back to back set up.
If my short final target is met (yellow line) I will update with entries, stops and targets for our potential long cypher.
Safe trading
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unfortuante that we just missed targets and didnt get an entry for the new cypher. Onto the next. The idea was still there and the direction still good :)