Lots of very important economic news releases this week, not the least of which will be the result of of the US Presidential election today. This could be a volatile week, so be careful and keep stop losses tight.
The EUR set up for an excellent reward to risk ratio trade of greater than 5:1 but neither of our Targets was reached. After getting a quick surge to the upside and riding out a pullback that didn’t threaten our initial stop loss at any time, the trade was eventually closed after a very wicky candle implying a top or reversal. We protected our modest gains and closed the trade on the next candle.
There will be lots of news this coming session to be aware of, as well as the markets reaction to the US elections.
Be very careful with your trading.
Back tomorrow.
