With the super volatile market due to the current COVID 19 situation and all the uncertainty in the economy, the market is constantly producing sudden spike in price which makes trading much harder as compared to the past.
Therefore I have decided to add in my Fx trend strategy into the trade copier service. With the trend strategy, it allows us to make more profits as it has a high risk reward ratio of 1:4 for EURUSD and GBPJPY and 1:5 for GBPUSD.
With this new strategy added, I hope to make more profits for my user for the month of July onward.
At the time of writing this post, we have a SELL trade on the EURUSD which is at 28 pips profits and I have shifted the stop loss to breakeven.
For this trade, it has the ability to move down 100 pips at least as we have set the target profit at 1.12058.
However the market tends to produce a spike once it opens on Monday and I cant ensure that it might not spike and hit our breakeven stop loss.
If it does, I will look for opportunity to enter a SELL trade again on the EURUSD as the EURUSD 4 hourly chart also has a breakthrough on the head and shoulder formation.
The head and shoulder pattern is a sign of reversal and it forms at the top of the 4 hourly chart which signals that the EURUSD might be moving down soon.
If you measure the tip of the head to the neckline, it gives us ard 180 pips which is the price projection from the breakout to the end of the head and shoulder run. The projected target is 1.10593 which means that it is going to be a good down run.
With the break of the neckline, it is an added sign of a SELL trade as it align with my Trend strategy.
If you manage to enter a SELL trade on the EURUSD at a good time, you can exit it at ard 1.12050 or 1.12060 as there is a strong support there.
If you are interested in joining my course and trade copier service, you can take a look at my course below