Normal
FBU setup: A conservative iSL would be at 7.20 creating the downside risk of 0.45. Sometimes I reduce this to 80% knowing that an 80% pull-back is rare and if price falls this far it will probably fall further. Placing the iSL at 7.30 is a little aggressive and indicates that I'll be managing the trade a little more aggressively as well.Both setups in ALQ and FBU leave little room for a corrective pull-back and if price does fall for two days the trades will be closed quickly. I've started these two trades because they're attractive low sized risk setups with acceptable RR.I'm hoping to grab a quick +1R - 1.5R on these trades for this thread but I think they'll provide an acceptable RR for a medium term trader employing a larger iSL size.Outlook: Three banks (CBA went XD) popped up in this afternoons 10d BO scan. That makes me optimistic about a bullish BO in the index.
FBU setup: A conservative iSL would be at 7.20 creating the downside risk of 0.45. Sometimes I reduce this to 80% knowing that an 80% pull-back is rare and if price falls this far it will probably fall further. Placing the iSL at 7.30 is a little aggressive and indicates that I'll be managing the trade a little more aggressively as well.
Both setups in ALQ and FBU leave little room for a corrective pull-back and if price does fall for two days the trades will be closed quickly. I've started these two trades because they're attractive low sized risk setups with acceptable RR.
I'm hoping to grab a quick +1R - 1.5R on these trades for this thread but I think they'll provide an acceptable RR for a medium term trader employing a larger iSL size.
Outlook: Three banks (CBA went XD) popped up in this afternoons 10d BO scan. That makes me optimistic about a bullish BO in the index.
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