We are currently testing major resistance looking left, and the price put an ugly but valid DT.
I was able to get a R/R (3.4 : 1). THAT MEANS that I can take this trade 4 times, win 1 time and still make money. Here comes the important part, and I write it down for you to know and for me to install it deep in my mind. I DO NOT EXPECT THIS TO WIN, the only thing I know is that if I consistently take this, I will make money in the end.
I was able to get a R/R (3.4 : 1). THAT MEANS that I can take this trade 4 times, win 1 time and still make money. Here comes the important part, and I write it down for you to know and for me to install it deep in my mind. I DO NOT EXPECT THIS TO WIN, the only thing I know is that if I consistently take this, I will make money in the end.
Note
When The lower low lower close happened, I moved my stops to .7528. Happy weekend!Trade closed: stop reached
Finally, I was stopped out, but I followed my rules and I was able to reduce my risk, leaving me with only -18 pips.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.