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HIGH PROBABILITY TRADING STRATEGIES FOR ANY MARKET AND ANY TIME FRAME

adjustment should not be made until the daily momentum makes another bullish reversal. That should be several days away as the daily momentum has only now reached the overbought zone. Do not lose sight of the objective. The market information implies the EUR/USD should go to a new high above the July high at 1.3852. If the recent bull sections are a guide, it will go much higher. The ST unit is already in a position for a reasonable profit if stopped out. The LT unit would make at least a small profit if stopped out. Do not risk taking a small profit too soon when a large profit is probable. Do not lose sight of the trade objective. Figure 7.19 extends the 60m data through August 25. On August 24, the 1.3636 WaveC target was reached, the Tr-1BL exit strategy was initiated, and the short-term unit was stopped out a couple bars later at 1.3625, one tick below the trailing 1BL. Trade results (ST unit): Long at 1.3469. Stopped out at 1.3625 for a 156 pip profit. The short-term unit ended up with a pretty substantial profit of 156 pips on an 18 pip capital exposure. Each action, from entry to stop adjustment to exit, was made in a logical manner based on the information the market provided. Don’t lose sight of the

FIGURE 7.19 Short-Term Unit Stopped Out

Profile for ERIC  Hunt

(wiley trading) robert c miner high probability trading strategies entry to exit tactics for the for  

(wiley trading) robert c miner high probability trading strategies entry to exit tactics for the for  

Profile for erichunt
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