Position : Long Pattern : Inverse Head and Shoulder Buy In: $8800 to $9000 Target 1 : $9800 to $10,400 Target 2: S11,400 to $12,000 Stop Lost : $7800 to $7500 Possible Gain : $3000 Possible Lost $1500
@muratsuhamakal, @muratsuhamakal, I will do a chart here soon. We hit our target 2....... We have strong support around 10k 9.5k. If it hold there we can be heading to the 13k levels. If it do not hold, you know the story, manage that trade. Thanks sir and I appreciate your time...
seananetsberger
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jesus thats a steep stop loss
Lou100B
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@seananetsberger, It is a 2:1 risk to reward. That is the way I set my risk to reward when my probability is high and I am feeling myself..lol.... Each trader is different and can set there own Risk to reward ratios and trade size depending on there risk taking and there pot ...The buy in was set and the sell targets, from there you can set you own stop lost... you can do 3:1 , 5:1, 10:1........ Sean thank you for the time sir and I appricate.. Good luck with your trading and I hope this chart was able to help you
seananetsberger
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@Lou100B, why do you buy at the top of waves? I dont understand this logic.
I scale in my buys at lows of waves, and put more in as it drops lower to reduce my average.
Instead, you buy at the top as it breaks out to a new way and lose out on 20% gains right off the bat.
Lou100B
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@seananetsberger, You are Right Sean. That is true. The best place to buy is it lowest point.. I got in earlier then the chart indicated. But at the time of me doing this chart, that was the safest buy in. It was the breakout. When I first did the chart, the price was at $8729. There was major resistance around 8700-8800 mark. I do not want to buy at $8729 and it reverse on me at that point and I am in a fight now risking $8700 to make a $100. So a safer trade at the time of the chart was to wait to it breaks it resistance and catch the breakout. I did this chart for the community and I want to give the community the safest route possible. This is the textbook way. Sean it sounds like you know what you are doing, so you can do different things and manage better then 90% of the people on Trading View. If people followed this chart, it was a win, and remember you cant it get all.. A win by 25 points or a 20 point win, we are doing good. You know how this industry is. In the name of the Great AL Davis (JUST WIN BABY)..... Thanks sir once again, it is a pleasure.
Lou100B
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@Lou100B, The ideal buy in is 6000k or that $7500 mark. If you caught it there. It was perfect
Lou100B
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@seananetsberger, also Sean, are you using a regular computer or laptop (not phone). If so, press play on the chart. You will see how the idea plays out..... It was basically a perfect setup.......... Like you say, I could of set the stop loss closer. But When I know, I know and i truly believe in myself