Reason for entry: broke out of the supply zone and is under moving average
Any patterns?: None
Divergance?: No
Risk/reward ratio: 2.32
Potential profit: 92%
Indicators: CCI, RSI, MACD all confirm bearish move
Multiple time frame support (1W, 1D, 4H): All time frames confirm bias
Moving Average: below moving average
Upcoming news announcements: US elections today
How confident are you with your position?: I'm pretty confident it will hit my target.
How do you feel in general?: Very eager to trade, might have been a good idea to wait after the election but since it's paper trading, let's wait and see.
Any patterns?: None
Divergance?: No
Risk/reward ratio: 2.32
Potential profit: 92%
Indicators: CCI, RSI, MACD all confirm bearish move
Multiple time frame support (1W, 1D, 4H): All time frames confirm bias
Moving Average: below moving average
Upcoming news announcements: US elections today
How confident are you with your position?: I'm pretty confident it will hit my target.
How do you feel in general?: Very eager to trade, might have been a good idea to wait after the election but since it's paper trading, let's wait and see.
Trade closed: stop reached:
Result: Stop reached by a sudden rise to the up side.
Lesson learned: don't trade when there is big news coming out like election results as the market is too uncertain and volatile. Better to stay away until the dust settles.
Lesson learned: don't trade when there is big news coming out like election results as the market is too uncertain and volatile. Better to stay away until the dust settles.