Broke Trendline, then corrected to the 0.618 retracement.
I plotted towo sell trades in the chart. One is better risk to reward but more high
risk.
it is your responsibility to not risk to much ( not more than 1% of your trading account)
so learn to calculate the lot size (or get a broker that has proper tradingplatform
which provides this!!)
I plotted towo sell trades in the chart. One is better risk to reward but more high
risk.
it is your responsibility to not risk to much ( not more than 1% of your trading account)
so learn to calculate the lot size (or get a broker that has proper tradingplatform
which provides this!!)
Trade active:
one half with set tp level at the previous low. the other with open end (will pull to breakeven when other may hit the target).
a 3rd smaller (cant lose more than 0,5% of my account!!!) trade with stoploss above the last candle after 0.618 was reached (sl 1.2536).
here is a more save way to trade this:
a 3rd smaller (cant lose more than 0,5% of my account!!!) trade with stoploss above the last candle after 0.618 was reached (sl 1.2536).
here is a more save way to trade this:
Comment:
here is a chart of AUDCAD with very similar price action
Comment:
both trades still intact.
cable maybe making a little bigger correction than i thought
cable maybe making a little bigger correction than i thought
Comment:
Comment:
1/3 into stopploss (the high risk trade with smaller stopploss).
other 2/3 now at breakeven.
other 2/3 now at breakeven.