Hello traders! I'm sorry I haven't heard back here for a long time, but I backtested a new strategy that helps me enter in really precise places, according to the previous trading style, I always mark the same buy/sell zone principle, with the fact that today I have much more accurate entries, see analysis , where you can also get inspired at what price levels I will continue to look for trading opportunities!
I am currently in an open sell position because we are still in a downtrend, but it is quite possible that the price after such a long decline may go into a countertrend for some time and therefore I am willing to look for buying opportunities in the marked zones.
I would also like to add that I hit the first TP according to the rules in the comment and now I am risk free in this sell trade.
IMPORTANT WARNING:
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Rebounds from marked zones created by trading positions of large institutions such as banks or various financial funds may not create new HH or LL and therefore it is very important to collect partial profits at least according to these rules. This will help you to keep your equity curve constantly growing and protect your funds from big drops if the price unexpectedly turns against you. But the decision is only in your hands.
I personally prefer setting up multiple TPs , here's an explanation:
1) 1:1 allows you to take a 50% position and thus secure a balance against loss in case the market turns
2) 2-5 :1 means profit (25% trade volume ), after reaching this TP I move SL to BE
3) 5-10 :1 means bonus money with rest of trade volume (again 25%)
Money is lying on the ground, just bend down for it! Be patient and wait for the price to reach a strong zone and open a position!
I am currently in an open sell position because we are still in a downtrend, but it is quite possible that the price after such a long decline may go into a countertrend for some time and therefore I am willing to look for buying opportunities in the marked zones.
I would also like to add that I hit the first TP according to the rules in the comment and now I am risk free in this sell trade.
IMPORTANT WARNING:
---------------------------------------------------------------------------------------------------------------------------------------------------------
Rebounds from marked zones created by trading positions of large institutions such as banks or various financial funds may not create new HH or LL and therefore it is very important to collect partial profits at least according to these rules. This will help you to keep your equity curve constantly growing and protect your funds from big drops if the price unexpectedly turns against you. But the decision is only in your hands.
I personally prefer setting up multiple TPs , here's an explanation:
1) 1:1 allows you to take a 50% position and thus secure a balance against loss in case the market turns
2) 2-5 :1 means profit (25% trade volume ), after reaching this TP I move SL to BE
3) 5-10 :1 means bonus money with rest of trade volume (again 25%)
Money is lying on the ground, just bend down for it! Be patient and wait for the price to reach a strong zone and open a position!