Trade 5: Long USDCHF at Potential Support

Reasoning:

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

ความคิดเห็น:

Moved stop loss to entry level.

ความคิดเห็น:

Missed first target by few pips. Trade closed at break-even.