It can be seen that, the price of eth/usd create bullish structure for long bias.
The reason
1) Price break trend line
2) Price did bullish correction
3) currently, the price show finish bullish correction at ema 200 in conjunction with resistance become support level with piercing pattern.
Fibonacci Extension for measuring potential resistance (profit target)
1) start from 1627(lower low) to 1936(higher high) then drag to 1820 (higher low)
2) we will get the profit target which is 2063 (0.786 ratio) as resistance level
Ema 200 (stoploss)
: the stoploss level should be 1 block below the ema 200 to prevent volatility hunt our stoploss level @ price 1777
Money management, using stoploss affect mental performance, therefore, trader should spend money from free cashflow that they receive from other sources such as dividend or rebalancing assets.
For example, I gain cashflow from passive trading 1000$
TYPE A (SCALPING MODEL),
I want to trade for 10 times (assume that my win rate is 50% and risk reward ratio is 1:3).
I will risk on this eth/usd for 100$ to gain 300$
and i will risk 100$ only when the price break trend line and make bullish correction like this.
therefore, i will keep entry the same set up for 10 times.
TYPE B (Risk per trade model)
I want to make it another portfolio
I will risk on this eth/usd for 2% to gain 6%
(risk 20$ to gain 60$)
This is just example of how i manage money for trading because my goal is to trade for a long time so i decide to pick the right approach and strategy for my risk appetite level. and the method can solve problems such as mental breakdown, mindset, and psychology.
(changing the process is better than fixing the habit !)
The reason
1) Price break trend line
2) Price did bullish correction
3) currently, the price show finish bullish correction at ema 200 in conjunction with resistance become support level with piercing pattern.
Fibonacci Extension for measuring potential resistance (profit target)
1) start from 1627(lower low) to 1936(higher high) then drag to 1820 (higher low)
2) we will get the profit target which is 2063 (0.786 ratio) as resistance level
Ema 200 (stoploss)
: the stoploss level should be 1 block below the ema 200 to prevent volatility hunt our stoploss level @ price 1777
Money management, using stoploss affect mental performance, therefore, trader should spend money from free cashflow that they receive from other sources such as dividend or rebalancing assets.
For example, I gain cashflow from passive trading 1000$
TYPE A (SCALPING MODEL),
I want to trade for 10 times (assume that my win rate is 50% and risk reward ratio is 1:3).
I will risk on this eth/usd for 100$ to gain 300$
and i will risk 100$ only when the price break trend line and make bullish correction like this.
therefore, i will keep entry the same set up for 10 times.
TYPE B (Risk per trade model)
I want to make it another portfolio
I will risk on this eth/usd for 2% to gain 6%
(risk 20$ to gain 60$)
This is just example of how i manage money for trading because my goal is to trade for a long time so i decide to pick the right approach and strategy for my risk appetite level. and the method can solve problems such as mental breakdown, mindset, and psychology.
(changing the process is better than fixing the habit !)
