The current play is EA to the short side. The tool has a TP of 1.4162. This seem a bit extreme to me so I turn to my chart which shows current support around 1.4185 or so.
So to me a realistic TP would be somewhere just above my support level. I set the TP right at 1.42. My entry was at 1.42471, so we are looking at a possible gain of about 47 pips. I'll take that everyday and twice on Sunday's.
The point is, using this tool gives me a really quick glance for entries without having to constantly look at charts and waiting for the charts to work themselves into a entry situation. This has been a major issue for me as I always seem to want to jump the gun just before the chart really gives me a signal to make a move.
This is still a work in progress so take it all with a grain of salt. I have about +17% gain so far for this week using the method I described earlier....
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