First I draw the general structure of the market and draw the supply and demand ranges to have an overview of the market.
Then I'll determine whether the trend is up or down, and after recognizing the trend, I'm trying to enter the trade in the direction of the trend, because this type of trade is more likely to succeed than the opposite of the trend.
Then, to enter in the Fibonacci Retracement, I will draw a return in my strategy, the range of 0.5 and 0.618 is considered the golden zone, and in that range I enter the trade and the limit of losses and profit limits are as follows:
SL : 1.17210
The profit limit is based on Fibonacci :
TP1 : 0.236
TP2 : 0
TP3 : -0.25
TP4 : -0.618
Then I'll determine whether the trend is up or down, and after recognizing the trend, I'm trying to enter the trade in the direction of the trend, because this type of trade is more likely to succeed than the opposite of the trend.
Then, to enter in the Fibonacci Retracement, I will draw a return in my strategy, the range of 0.5 and 0.618 is considered the golden zone, and in that range I enter the trade and the limit of losses and profit limits are as follows:
SL : 1.17210
The profit limit is based on Fibonacci :
TP1 : 0.236
TP2 : 0
TP3 : -0.25
TP4 : -0.618