I have been working tirelessly to create a strategy that gives me a pretty high win rate and RR at the same time, which I know is unheard of but that won't stop me.
This is one of my first trades based on this new strategy. I use Fib levels 62%, 70.5% and 79%, price is rejecting these levels and a 1hr resistance at the same time.
Just found a 4hr support that...
I think i was too early geting into this trade
If you look at the chart - (in hindsight) it did have higher to travel and make contact with the diagonal trend line which it previously broke through, now has retested that trend line overnight and i now think will travel lower.
Same rules as the related trade idea below (EURNZD 5 to 1)
Since the appearant oscillation of the stock has begun to arise, there is great opportunity for the momentum of the stock to make a significant reverse into the bullish vicinity.
Not Investment Advice. For Educational and Analysis Purposes Only. (Be Diligenet and Stick To Your Trading Plan).