ETHUSDT
On the 4 your chart for ETH/USDT, as we can see RSI is at 30 and usually this means we gonna have a increase in price but since the price channel is broken we can open a short position when price pullbacks to the channel.
our entry point would be 1560$
TP: 1405$
SL: 1608$
The strategy behind opening any position is to make sure your win/loss ration is 3/1 i.e TP should be 10% and your stop loss 3%
I suggest you do the same, so if you do 10 trades you only need 3 of them to be successful to gain a profit on your whole trades
Comment:
We have got our pullback, now it seems a good time to open a short position Make sure you use Stoploss
Comment:
As we anticipated this pattern worked to perfection and we hit our 10% profit,
We call a successful trade
We call a successful trade