We discussed and took this trade in detail today in the live trading webinar. I apologize for posting this an hour after class instead of right after. I had a meeting following the conclusion of that class. We are currently short on this trade however, we will switch long and short until the trade becomes successful through our pre-determined sequence. (The Sequence is located in the attached file in this signal). Our first trade is a 0.01 lot short at: .99982 with a take profit at .98219 and a stop loss at: 1.00386. (This should be taken at market). If our first trade loses we have a long trade ready to go at: 1.00388. This trade has a lot size of 0.02. Its associated stop loss is located at: .99982 and its take profit is located at: 1.02149. This type of order is also known as a "Pending Buy Stop Order." Which means it is a buy ready to trigger but will only trigger if the market pushes higher. I have attached the sequence of this trade within this signal. You must follow this sequence perfectly. If you have questions or are not sure how to implement the sequence let me know. NOTE: in the attachment you will see that the first lot size starts at "0.1" instead of "0.01." This is for calculation purposes. It is calculating dollars and cents. Or in other words, it's saying at whatever lot size will make or lose 10 cents a pip. We know that a 0.01 lot is called a micro lot and makes or loses 10 cents a pip. With that in mind we put 0.1 in the calculator because it makes for 10 cents a pip. To state it plainly a 0.1 in the calculator equates to a 0.01 in a lot size and a 0.2 in the calculator equates to a 0.02 lot size. In recap, we have only two trades on at the moment. One trade is an active short. Trade number two is a long but it's pending and will only open if the market pushes higher. It should open in the event that the short trade loses. If that happens you should hear from me in an update that will ask you to place a new sell stop order in the event that the market falls.
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— We just closed the trade in class. We will look for more setups on Monday.