rectangle, iHAS neckline break

FX:AUDUSD   Australian Dollar / U.S. Dollar
125 8 0
entry after bullish candle pattern
Have you taken a position yet? Price is at your lower trend line right now.
itaskar ForexWeeklyAnalysis
yep may, 0,9000 and 0.8970..will hold till the bullish trendlines holds.
Assuming you went half / half, then my average price is just below yours (0.8980). Trend line cross is a nice touch for a potential bounce point.
itaskar ForexWeeklyAnalysis
heh :) is 66/33, 66 for 0,900..I'm still beginner, so I appreciate that you are writing about your entry strategy in your ideas..
I already posted it on my chart but I'll post it again here for your followers: I loaded 30% at 0.9015, 20% at 0.8980, 50% at 0.8960.

Since you're a beginner, here's some further insight on loading positions. For the record, my percentages only represent position size, not account exposure. I won't reveal exactly how much I trade but let's say for simplicity, I'm willing to risk 10 lots for my entire account. So based on my risk tolerance, accuracy, bias, etc. I'll allocate the 10 lots between the pairs that I'm watching.

The simplest way to allocate exposure would be 10-20% per trade, which amounts to 1-2 lots. I usually watch more than 5 pairs so I opt for 10% risk per trade, which in my example is 1 lot per trade. This is my position size and load accordingly based on the levels. I usually try to load in incremental trade sizes.

Furthermore, given the allocation of risk, I have a large buffer for adding more orders if necessary because I'm well below my 10 lot account exposure. Why? Because what are the odds that I'm trading 10 pairs? Very rare, the most that I watch at any point in time is probably 7-8 pairs, so I have an extra 2-3 lots doing nothing most of the time.

Lastly, in order to come up with the initial 10 lot exposure, figure out your leverage and stick with it. You should never increase your leverage to fill more positions. If you want to fill more, it's best that you increase your capital first. If you can't deposit more, then you don't fill more, simple as that.
itaskar ForexWeeklyAnalysis
perfect, thx a lot
ForceFollower ForexWeeklyAnalysis
I agree with you. If you want to increase the size of your positions, "it's best that you increase your capital first".
Yeah, a good idea. Perhaps just above 0.9, esp. if the level 0.9 is going to hold, otherwise it'll retrace deeper, to 0.894. The SL just below your HL pivot should be secure. Then I expect the third test of your long-term bear trend line.
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