We can clearly spot a breakout on the daily chart and golden cross over playing out (Price action above EMAs). However, I will suggest we wait for a pullback before taking a position.
Buy Position
Entries - $1860 and $1832
Stoploss - $1751
Take profit - $1958 and $2037
Lotsize: This actually depends on your trading amount. However, here are my recommendations based on the trading amount;
$100 - $5000 – Lot size 0.01 – 0.04
$6000 - $15,000 – Lot size 0.05 – 0.08
$16,000 - $50,000 – Lot size 0.09 – 0.25
$50,000 - $100,000 – Lot size 0.25 – 0.5
Total number of open trades shouldn’t be more than 5. More so, this strategy ensures you lose less than 2% - 2.5% of your total trading portfolio on a single trade if it goes against you and earn more than 5% - 6% on a trade if it goes in your favor.
Buy Position
Entries - $1860 and $1832
Stoploss - $1751
Take profit - $1958 and $2037
Lotsize: This actually depends on your trading amount. However, here are my recommendations based on the trading amount;
$100 - $5000 – Lot size 0.01 – 0.04
$6000 - $15,000 – Lot size 0.05 – 0.08
$16,000 - $50,000 – Lot size 0.09 – 0.25
$50,000 - $100,000 – Lot size 0.25 – 0.5
Total number of open trades shouldn’t be more than 5. More so, this strategy ensures you lose less than 2% - 2.5% of your total trading portfolio on a single trade if it goes against you and earn more than 5% - 6% on a trade if it goes in your favor.