If a Fib line is drawn on today's move on a 5m chart, the 38% retrace lies at 160.90. Targeting 50 pips on the move would have us exit around 160.80, so this is a great target. Stop will lie below the days lows. Great risk/reward.
I'm a self-taught, individual trader, 30 years of age. I decided to start this blog to share trade ideas & thoughts about market action. I hope to invite criticism from those more experienced than myself, & questions from those just starting out in order for all to benefit. Zeke Logan is my way-cool alias. Also, in the profile picture above you can see my assistant, Azumi, the feline trading ninja. Her alias is Mieux-Mieux.
If a Fib line is drawn on today's move on a 5m chart, the 38% retrace lies at 160.90. Targeting 50 pips on the move would have us exit around 160.80, so this is a great target. Stop will lie below the days lows. Great risk/reward.
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