Checked at close of 11am candle – following GBP news (9.30am) and CHF news (9.30am). This trade met all of the parameters for the S3 setup type.
I opened this trade on the FXCM because the spread was 1 pip tighter than ActiveTrades (AT). However, if I hold the trade into the weekend then I will need to switch the position to AT, because of the experience I had in getting stopped out on the short AUDNZD trade last Sunday. I will be looking for the position to shift into my favour, at least 1/3rd to halfway towards my target by the end of the day.
I am risking 0.5R on this trade, because I am still very new to the setup.