Always perceive your risk first, before determining the reward

20 paź 2021

#EURGBP #Daily #Europound #FOREX #Tommy
- The market has been quite tough for many commodities recently due to the effects of the global economy.
- The FX market is not exceptional and it has never been this brutal. Nevertheless, who should we blame as a trader? It’s not the whales or other stakeholders in the market. It should be ourselves since trading is a series of endless battles against our own ego.
- Here is Euro/British Pound daily which I trade very often. I found a confluent support zone at 0.83400~0.83900 which might be a good entry for a decent risk reward ratio.
- Below is a long trading setup where stoploss and target prices are written in percentage instead of pips (or ticks). Make sure to use proper leverages or pips and also check if the position size can be covered by your seed money.

Long (Valid until Nov 15th)
EP: 0.83900
SL: 0.83250 (-0.77%)
TP1: 0.84920 (+1.22%)
TP2: 0.85960 (+2.46%)