Reasoning:
The price at potential support:
Trade Levels:
Entry: Buy limit at 0.9705 - T1: 0.9813 - T2: 0.9950 - SL: 0.9640 - Average RR: 2.71
All my trades will have Risk of capital per trade of 2%
Stats before this trade:
Number of trades: 4
Winning Trades : 1 Losing Trades: 2 Still active: 1
Net return: -0.4%
Remember
-Never risk more than 2-3% of your balance on a single trade. And If you are a beginner 1%.
-A Single or few trades result is not important. Whats important is the net return at the end of the month, quarter and year.
Best
Technician
The price at potential support:
- Long term rising trend line
- 78.6 Fibonacci retracement for major bullish wave
- 1.618 Fibonacci extension for latest bullish wave
- RSI Oversold and showing divergence
- Long legged doj candle
Trade Levels:
Entry: Buy limit at 0.9705 - T1: 0.9813 - T2: 0.9950 - SL: 0.9640 - Average RR: 2.71
All my trades will have Risk of capital per trade of 2%
Stats before this trade:
Number of trades: 4
Winning Trades : 1 Losing Trades: 2 Still active: 1
Net return: -0.4%
Remember
-Never risk more than 2-3% of your balance on a single trade. And If you are a beginner 1%.
-A Single or few trades result is not important. Whats important is the net return at the end of the month, quarter and year.
Best
Technician
Comment:
Moved stop loss to entry level.
Comment:
Missed first target by few pips. Trade closed at break-even.
