Eklavyas Journal - Page 2
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Thread: Eklavyas Journal

  1. #11
    EURJPY has just had a double high lower close candle on the 4 hr chart with the candle closing below the weekly Pivot level. I have taken a brief position with SL the high of previous candle and TP in the 38.2 Fib LEvel. The Risk/Reward is 1:2.

  2. #12
    I am basically going to draw Fib levels on daily charts. Then use the 4 hour charts to recognize and possible entry signs. Once I receive an entry sign about the 4hr chart, I will analyse the overall condition of the pair using the 4hr, 1day, Weekly charts as well as the Fib levels. Once I can identify that it is a trade, I will return to 15/30 minute time to fine tune my entrance and enter the position.

    My minimal risk/reward ratio will be 1:2. Don't risk greater than 7.5% of the account on any single trade.

    I believe I am all set to go. I will continue to post my own thought process in my trades as I move along.

    Hopefully this Will be a Eduional and Profitable ride.

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