I have identified an opportunity to place a long order with a favorable 2 risk reward ratio. When considering the big picture over the past year, it is evident that the price has been moving within an uptrend channel (Sideway up).
Furthermore, in the current micro picture, I have observed a chart pattern at a resistance level with a candlestick indicating rejection, which suggests that the price is preparing to rise. Thus, I have placed a long order based on these observations.
In order to manage risk, I have chosen to risk only 0.5% of my entire portfolio. This 0.5% represents a buffer that I have gained from a previous trade. If the trade is successful, I stand to gain 1% of my portfolio. However, if the trade is unsuccessful, I will lose only the 0.5% buffer from my previous trade. This approach helps me maintain a cool and level-headed mindset like the North Pole.
Furthermore, in the current micro picture, I have observed a chart pattern at a resistance level with a candlestick indicating rejection, which suggests that the price is preparing to rise. Thus, I have placed a long order based on these observations.
In order to manage risk, I have chosen to risk only 0.5% of my entire portfolio. This 0.5% represents a buffer that I have gained from a previous trade. If the trade is successful, I stand to gain 1% of my portfolio. However, if the trade is unsuccessful, I will lose only the 0.5% buffer from my previous trade. This approach helps me maintain a cool and level-headed mindset like the North Pole.