I've been trading many years, and thought it would be fun to post a trade for the first time, in hopes of some of you out there might profit as i do. So lets break it down.
The Kiwi has been rallying quite a bit in the past couple weeks with no sign of consolidation until now.
Technically: price has reached what appears to be the third test of an upward trendline. Upon its touch, it closed on the weekly with and inverted hanging man. Lastly, it has reached a golden fibonacci level.
Targets: Now in theory, if indeed it reverses at where it currently lies and performs an upward swing, it can potentially travel up 300 pips+.
However, as a trader, you must understand its not about being right on an analysis, its about making money and exiting. So try to choose a wise target that fits into your time factor and your logic of price sentiment.
Risk managing: technically if this line gets breached and closed below it will be an indication of a failed trade.
we cant be right on everything. All we can do is make a speculation, establish risk management, it works or it does not, and move on to the next trade.
I risk 1-2% of capital per trade, and this one will be no different.
Trade wisely.
Sincerely,
Mashtoub
The Kiwi has been rallying quite a bit in the past couple weeks with no sign of consolidation until now.
Technically: price has reached what appears to be the third test of an upward trendline. Upon its touch, it closed on the weekly with and inverted hanging man. Lastly, it has reached a golden fibonacci level.
Targets: Now in theory, if indeed it reverses at where it currently lies and performs an upward swing, it can potentially travel up 300 pips+.
However, as a trader, you must understand its not about being right on an analysis, its about making money and exiting. So try to choose a wise target that fits into your time factor and your logic of price sentiment.
Risk managing: technically if this line gets breached and closed below it will be an indication of a failed trade.
we cant be right on everything. All we can do is make a speculation, establish risk management, it works or it does not, and move on to the next trade.
I risk 1-2% of capital per trade, and this one will be no different.
Trade wisely.
Sincerely,
Mashtoub