In the latest episode of “Trading the trend,” Axel Rudolph reviews past trading outcomes and discusses the importance of setting stop-loss levels. Despite a poor entry, a long position on TUI shares was maintained with adjusted stop-loss levels. However, a EUR/USD long position was stopped out due to a drop following European elections. Unsuccessful short attempts on natural gas prices and fluctuating gold trades were also noted.
Looking ahead, Rudolph suggests a new trading opportunity to go long on GBP/USD with a stop loss below the 24 May low at $1.2675 and an upside target just below the $1.3000 mark.