Again, specific profit target positioning depends on the strategy that you are trading. However, the first thing to look at is where a reasonable profit is given the risk in the trade, and then to see out there any barriers such as resistance levels between the current price and that target level. If there are, then don’t execute the trade – don’t kid yourself into thinking that your trade will breakthrough levels and achieve profits if a completely logical look at market conditions says otherwise. Read More
Do you want to learn more?
REPORT: How to set profit targets and control losses - Neil Rosenthal
REPORT: S.E.T. It Up – Three Parts of a Trade - Rick Wright
REPORT: Money Management and Determining How Large Your Profit Target Should Be - Rob Booker
Editors’ Picks
EUR/USD eases to near 1.0850 on renewed USD strength
EUR/USD stays under modest bearish pressure, battling 1.0850 in the European session on Tuesday. The renewed USD strength weighs on the pair. ZEW sentiment survey will be featured in the European economic docket ahead of housing data from the US.
USD/JPY extends rally beyond 150.00 as markets assess BoJ decisions
USD/JPY preserves its bullish momentum after breaking above 150.00 with the 'sell the fact' reaction to the Bank of Japan's decision to end negative interest rates. In the post-meeting press conference, Governor Ueda said they will consider options for easing broadly, including ones used in the past if needed.
Gold price struggles to lure buyers, holds steady above one-week low ahead of FOMC meeting
Gold price ticks lower amid reduced Fed rate cut bets, elevated US bond yields and stronger USD. Geopolitical tensions could lend some support to the safe-haven XAU/USD and help limit losses.
Why is the crypto market crashing?
The two most important contribution to the ongoing bull market is the meteoric rise in Bitcoin due to the ETF approval and the sudden interest spike in Solana ecosystem. But the recent move suggests that the upward momentum is dissipating and a correction looms.
Canada CPI Preview: Inflation pickup could scale back bets on early interest-rate cut
The Canadian Consumer Price Index is expected to have risen by 3.1% YoY in February. The BoC shows no rush to lower its interest rate. The Canadian Dollar maintains its multi-day lows against the US Dollar around 1.3540.
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