In this session our Senior Analyst Ian Coleman discusses the importance of sound Money Management including Risk / Reward ratios, account drawdown, building in and out of trades and the value of knowing when to cut your losses and run your winners.
In this webinar Ian Coleman discusses the importance of breaking down the timeframes to establish the overall trend, chart formations and an overall bias to trade.
“EURUSD – USD weakness across the board resulted in EURUSD breaking the sequence of 4 negative daily performances yesterday. With the intraday chart now posting higher highs and lows, the bias turns to the upside. However, this could be short-lived with the previous high at 1.2929 ‘lining up’ with a 261.8% extension level (from 1.2795-1.2847). Risk/reward is just ample to call a buy this morning. The call is Buy at the 7am open with a stop at 1.2861. The profit targets are1.2916 and 1.2929. A break of this level is unlikely but the market should focus on 1.2942
The risk would be selling through a stop of 1.2861
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