This is just a technical analysis. No one has the ability to know the future.
I prepare the entry and exit levels in my analysis according to my own risk profile. Risk profile and money management are personal matters. Everyone has their own risk perception. You should assess your risk profile and change if it's necessary. In capital markets, without money management, you just lose money. Do not start without knowing the money management because the losses will be much more dramatic if you are doing leveraged trades
The requirements of the strategy;
- The price must reach the target area in (POINT OF X),
- RSI level should be in overbought territory when the price comes to point of X (Including first and second entry points).
- Price Must have come to X POINT by making Fibonacci retracements in daily chart ,corrections which i signed in analysis.
- Price Should be followed for 2 weeks or more
- If there is a discrepancy between these data, the analysis should be reassessed and modified if necessary. “No man ever steps in the same river twice!”
X POINT is the targets to enter trades. If the price action reaches the X POINT, there will be a great shorting opportunity. I will enter two short orders after price reaches the level of x. Exit points are very important. Risk reward ratio is personal. I recommend and use 1 to 3 or 1 to 2 risk-reward ratio. Put your stops as your own risk profile.
I will not share my fundamental anaylsis but i don’t think price will reach the level of 50 dolar. Make your fundamental analysis before trading.
Risk is the beginning of winning. Those who can not manage their own risk, will never make money with the opportunities that come with this volatility. The winners will unfortunately put losers money into their accounts. Please do not forget this and be very careful.
Be safe...