Hello beautiful humans,
A 50% retracement presented itself for ARR at the 11.47 level (entry).
Managing risk by risking 1% of the account size (eg. account size: $1000; risk of 1%: $10)
Placing stop loss / stop limit loss at 10.64 (exit); just below the 61.8% retracement.
Looking for the price to bounce off the 50% retracement level (entry), and head on up to the 14.00 level (exit), which provides a risk:reward of approx. 1:3
Thanks for listening.
Take care.
Friendly Remembering:
Manage your risk
Have a strategy; minimizes decision paralysis
Practice patience
Be patient
Enjoy the experience.
A 50% retracement presented itself for ARR at the 11.47 level (entry).
Managing risk by risking 1% of the account size (eg. account size: $1000; risk of 1%: $10)
Placing stop loss / stop limit loss at 10.64 (exit); just below the 61.8% retracement.
Looking for the price to bounce off the 50% retracement level (entry), and head on up to the 14.00 level (exit), which provides a risk:reward of approx. 1:3
Thanks for listening.
Take care.
Friendly Remembering:
Manage your risk
Have a strategy; minimizes decision paralysis
Practice patience
Be patient
Enjoy the experience.
Trade closed: stop reached:
The learning continues...