Direct from the desk of Dane Williams,
This is not your average forex broker email.
Remember last week’s EUR/GBP long trade?
If you need a refresher, current Inner Circle members can go through their inbox and find the original trade. I mean you’ll no doubt remember it if you traded it, because you’re currently over 100 pips in profit!
If not, here’s the chart and key risk management pieces of the setup from that first email.
I’ll be seeing how low I can get to buy, and then play for a trend line breakout and new highs.
Aggressive traders place your stops below the grey boxes, conservative traders place your stops below the higher time frame zone.
Now take a look at how things played out.
Updated EUR/GBP Hourly
Price certainly gave us the low entry I was looking for, pulling all the way back into the grey boxes of short term resistance that we were looking to turn support and use as an entry.
After bottoming out, right in the middle box, price ripped higher and broke straight through the trend line just like we were looking for.
From there, price hasn’t turned back and is currently 100+ pips from the pullback.
If you placed your stop either below the intraday boxes or the higher time frame zone itself, they survived no matter where you entered.
Did you make money on this EUR/GBP long?
Hit reply and let me know where you entered and most importantly how you managed your risk.
I read and reply to everyone inside my Inner Circle who takes the time to chat.
Best of probabilities to you,