Yesterday's attempt to play RSI level strategy failed with 50 pips loss. However, I was looking out for next opportunity to get into trade using the same strategy.
I read reversal signal yesterday night (marked in the chart). I placed limit buy order at 1.5810 (including spread) which is around half of the wick. The order is filled overnight.
My target is at 1.5910 i.e 100 pips. I am still in the trade.
The price had gone around 70 pip in my favour and pulled back.
Stopped out for -50 pips loss
I read reversal signal yesterday night (marked in the chart). I placed limit buy order at 1.5810 (including spread) which is around half of the wick. The order is filled overnight.
My target is at 1.5910 i.e 100 pips. I am still in the trade.
The price had gone around 70 pip in my favour and pulled back.
Stopped out for -50 pips loss
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