Trade of the Week – 18-08-2024 – EURCHF
Weekly Highlights and Performance Overview
Welcome to our “Trade of the Week” page! Here, we spotlight the standout trading signal that delivered exceptional results for our members. This page serves as an educational resource, showcasing the performance of selected trading signals and offering deep insights into the strategies that led to their success.
Featured Trade Signal
Featured Trade Signalhttps://signalsoracle.com/wp-content/uploads/2024/08/EURCHF18Aug2024.jpg
Date of issue – 18-08-2024
Pair – EURCHF
Entry Price– 0.9599
Stop Loss – 0.9616
Take Profit 1 – 0.9582 | Reward to Risk Ratio – 1:1
Take Profit 2 – 0.9548 | Reward to Risk Ratio – 3:1
Result at a Glance
Outcome – No Entry
Note: This trade was shared with our members last week as part of our weekly signals service. For more details, view the original signal here.
Strategic Insights
- Target 1: Set a 1:1 reward-to-risk ratio to ensure a breakeven point.
- Target 2: Set at a 3:1 reward-to-risk ratio, allowing for a maximum profit before the end of the week.
Market Conditions and Analysis
The Euro was bullish against the Swiss Franc in the previous week. However, it was approaching a key retracement level (Fibonacci) from the previous down move. A short position was recommended just the high of the previous week.
Summary and Learnings
This week’s Trade of the Week is an example of ‘Not meeting Entry’. As was the case with every single trading opportunity recommended on the 18th of Aug, 2024. Is it a good thing or a bad thing? We look at it as ‘part of the business’. We wait with patience and discipline at prices where reversals are most likely, because nothing can be guaranteed. Since trading and investing is a probability-based business, just like the Insurance business, having a set of rules is paramount. The stricter the rules the fewer the trades taken. End of the day, what we seek is profitable trading and not active trading.
Interested in more trades like this? Sign up for our premium membership for real-time access to our trading signals and in-depth analysis.