Here we are trying to catch an uptrend. As the situation is quite risky, we are tight on SL levels. As a rule of thumb, don't risk more than 2% of the total deposit. Keep Risk/Reward ration = 2.
The trend is downward. Also, the pair crossed down one of the major support lines. We will try to look for an entry point, that meets our basic requirements: Risk / Reward ratio - 2, Risk - 2% of total balance.
The trend is upward. The best thing we could do is try to catch the trend during the small pullback.
Risk / reward ratio - 2.
Risk: no more than 2% of the balance.
It is obvious, that the British pound is getting weaker. So by keeping in mind saying "Trend is your friend" we are looking for an entry point. No more than 2% of our total balance is at risk. Also, tight Risk Reward ratio.
This is the type of trading during the sideways market (aka range trading).
As shown in the chart, there is a clear consolidation level in both support (bottom) and resistance (top) levels. This type of trading is highly risky, as market manipulations can create many false tops and bottoms before finding a certain direction (trend).
However, as you see, there...
It seems like the trend has been changed from down to up. We can see that by the looking at previous high price. First the price drown higher high in 0.91427, after even higher in the level of 0.9163. For that reason, we suppose that the trend changed.
Here, as in many USD pairs, we can see a clear upside trend. So, we aiming to enter the market at the 61.8 Fib price pullback. As usual, we consider:
1. Good risk-reward ratio almost 2
2. Risk no more than 2% of an account
Here, as in many USD pairs, we can see a clear upside trend. So, we aiming to enter the market at the 61.8 Fib price pullback. As usual, we consider:
1. Good risk-reward ratio almost 2
2. Risk no more than 2% of an account
It is clear, the upside is still on track. We are aiming to long at a pullback at 61.8 Fib level. The trade is very good in terms of risk-reward ratio. We are entering the market, considering:
1. risk-reward ratio = 1.9;
2. putting at risk no more than 2% of an account.
Remember, trading is not about gambling but strategic planning. So start writing notes about...
