Trade #5 GBPAUD - Pound corrects against the Aussie.
Aussie bends pound below daily and hourly trend lines.
The breakout of those trend lines coincide both at the same level.
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Money management of my trades. There are two targets: the first one is at least double of the target two (the farthest). The proportion is 2/1. So, 2 lots for target one and one lot for target two.
Typically, when the target one is reached, the stop-loss of position for target two is put to breakeven.
If target one is hit before opening positions, the trade is cancelled automatically.
The breakout of those trend lines coincide both at the same level.
___________________
Money management of my trades. There are two targets: the first one is at least double of the target two (the farthest). The proportion is 2/1. So, 2 lots for target one and one lot for target two.
Typically, when the target one is reached, the stop-loss of position for target two is put to breakeven.
If target one is hit before opening positions, the trade is cancelled automatically.