This is a trade idea generated by the 500 Pips a Week. We are a little late on this sell signal generated by 500 Pips a Week. But it’s a good thing as we are entering EURAUD at a better price now. While Indicators are great to use, we use Indicators as a tool to help us narrow down opportunities. We are going to take this sell signal because EURAUD is now retesting resistance and we feel that the resistance will hold.
Since this is a simple BUY or SELL arrow generated by the Indicator, we will just enter at market price.
- Market Price: 1.58855
- Stop Loss: EXIT at next UP Arrow
- Take Profit: EXIT at next UP Arrow
With Indicators like the 500 Pips a Week Indicator, we will just have to be sure that we adjust our lot size correctly. I suggest using 0.01 for every $500 in your trading account. If you have $5000, then your lot size should be 0.1. We are excited about the potential of this new 500 Pips a Week Indicator as it has shown very good promise in our testing phase. Good luck and let us know how this trade is for you.
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