Hello beautiful humans,
A 50% retracement presented itself for WELL at the 4.75 level (entry). Ensure we close above the 4.75 level to provide confirmation.
Managing risk by risking 1% of the account size (eg. account size: $1000; risk of 1%: $10); may need to adjust this depending on commission costs of trading broker.
Placing stop loss / stop limit loss at 4.49 (exit).
Looking for the price to bounce off the 50% retracement level (entry), and head up to the 5.50 level (exit), which provides a risk:reward of approx. 1:3.
Thanks for listening.
Take care.
Friendly Remembering:
Manage your risk
Have a strategy to minimize decision paralysis
Practice patience
Be patient
Enjoy the experience.
A 50% retracement presented itself for WELL at the 4.75 level (entry). Ensure we close above the 4.75 level to provide confirmation.
Managing risk by risking 1% of the account size (eg. account size: $1000; risk of 1%: $10); may need to adjust this depending on commission costs of trading broker.
Placing stop loss / stop limit loss at 4.49 (exit).
Looking for the price to bounce off the 50% retracement level (entry), and head up to the 5.50 level (exit), which provides a risk:reward of approx. 1:3.
Thanks for listening.
Take care.
Friendly Remembering:
Manage your risk
Have a strategy to minimize decision paralysis
Practice patience
Be patient
Enjoy the experience.
Trade closed: stop reached:
The learning continues.
Remember:
Manage your risk. Another opportunity will present itself.
Remember:
Manage your risk. Another opportunity will present itself.