Target 1: 38.2% retracement of AD leg.
Target 2: 61.8% retracements of AD leg.
Stop loss: Always above X. Either 113% or 105% XA extension, or 1 ATR beyond X. Some some traders use 10 pips past X level. In this trade it is 5% above x.
When Target 1 one is reached, half of the position should be closed and the stop loss of the remaining half should be placed to breakeven.
Target 2: 61.8% retracements of AD leg.
Stop loss: Always above X. Either 113% or 105% XA extension, or 1 ATR beyond X. Some some traders use 10 pips past X level. In this trade it is 5% above x.
When Target 1 one is reached, half of the position should be closed and the stop loss of the remaining half should be placed to breakeven.
