Not the preference to catch these uptrends a little late but it is possible to make some profits.
MACD looks great and RSI is decent.
Once the trade hits TP1 or the orange line, there are more options:
1) move SL to Breakeven and extend targets
2) take profit on half position at an R of 1.08
3) move SL to Breakeven and hold until valid reason to exit
MACD looks great and RSI is decent.
Once the trade hits TP1 or the orange line, there are more options:
1) move SL to Breakeven and extend targets
2) take profit on half position at an R of 1.08
3) move SL to Breakeven and hold until valid reason to exit
Comment:
Still valid but will require more patience. Overall your portfolio will end up profitable if you stick with your Reward/Risk ratios which is easier when you take small position sizes. The consensus 2% is good for these kind of trades and I would go as high as 5% for high conviction high "score" trades.
Comment:
So this was a loss with a 1.75R which is a loss we can take because our winners return more. It also looks like a trade to get back into.