AFTER A LONG HIATUS, I AM READY TO SHARE IDEAS WITH YOU.
SOMETIMES IT IS NECESARY TO TAKE A BREAK FROM THE MARKETS TO ENJOY WHY WE DO WHAT WE DO.
I DECIDED TO MINE FOR SOARING EAGLE PATTERNS AND I FOUND A HIGHLY PROBABLE PATTERN WITH A 9:1 RISK REWARD PROFILE...AS I PREACHED BEFORE, ONLY TAKE TRADES WITH FAVORABLE RISK REWARD PROFILES. THIS WILL ALLOW YOU TO TAKE DRAWDOWNS, BUT STILL GIVE YOU THE ABILITY TO EXECUTE MORE TRADES.
Question from a newbie that has been following you for a while; would you suggest a pending order at 1.224 or just monitor the price until the pattern is confirmed?
LewipapersFX
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Thanks for following, opened the trade yesterday when the market found its support at 1.2204 - Ideally this is where you want to enter long.
However, being that this pattern offers two opportunites, you can wait for price action to reach 1.2204 or execute a buy order at 1.2267 - you would still have a favorable reward over the amount of risk. Let me know what you decide to do in this situation.