Hey everyone!
I decided to share my progress toward the first funded account challenge. It is a $100k challenge with pretty standard conditions (10% max DD, 5% daily DD limit, unlimited time). All of my trades will have a 1% risk split into 2 trades, one for TP1 and the second one to keep it running for as long as possible.
So, let's get started!
Trade Description
A very well-defined bearish channel that continued to hold the structure. Recently it broke the last lows, to then form a pullback to test the breakout.
When the market started to interact with the newly-formed resistance, price action showed rejection, supporting the presence of supply, so a short trade was taken.
I’m considering removing TP1 to leave all the trade volume running as the channel continues to develop. Will keep an eye on the price action.
TP1 is set to the last lows, and TP2 is open with a trailing SL setup.
I decided to share my progress toward the first funded account challenge. It is a $100k challenge with pretty standard conditions (10% max DD, 5% daily DD limit, unlimited time). All of my trades will have a 1% risk split into 2 trades, one for TP1 and the second one to keep it running for as long as possible.
So, let's get started!
Trade Description
A very well-defined bearish channel that continued to hold the structure. Recently it broke the last lows, to then form a pullback to test the breakout.
When the market started to interact with the newly-formed resistance, price action showed rejection, supporting the presence of supply, so a short trade was taken.
I’m considering removing TP1 to leave all the trade volume running as the channel continues to develop. Will keep an eye on the price action.
TP1 is set to the last lows, and TP2 is open with a trailing SL setup.
