RRR : 1: 6 (3.64%)
1. PENDING FORMATION AT THE END OF IMPULSIVE WAVE
2. TREND REVERSAL PATTERN AS SEEN FROM TRADER DYNAMIC SEQUENTIAL
1. DAILY DIVERGENCE
2. WEEKLY DIVERGENCE AT SENTIMENT ANALYSIS
MONTHLY : DOWNTREND
WEEKLY : DOWNTREND
DAILY : SIDEWAYS
ENTRY BUY LIMIT:
YOU NEED TO WAIT FOR FORMATION OF 2ND BOTTOM (I EXPECT IT'S GOING TO BE EITHER TODAY OR TOMORROW) AND
ENTRY BUY LIMIT AT H4 A OR H4 B
IF YOU'RE BREAKOUT TRADER; YOU MAY ENTRY ONCE PRICE BREAK MONTHLY TRENDLINE
SL : 1.780 ( 20 PIPs BELOW THE 1st BOTTOM)
TP 1 : SWAP ZONE 1 (1.940)
TP 2 : SWAP ZONE 2 (1.980)
My trading strategy is simple;
1. You need to have a TRADING PLAN to know the overall direction of the pair for the coming weeks or months.
2. Once you identify the direction, you will be able to set in mind where the price is heading to and you can place entry and profiting from both short term or long term entries.
3. What I meant by the long term is you should set aside an account at the ENTRY ZONE or the SNIPER ZONE and keep it for a longer period of time following the chart pattern; maybe weeks or months until it reaches targeted TPs. (Swing Trade)
4. For short term opportunity or intraday trade, you can have a different set of strategy; you may benefit if you trade with LEADING Indicator;
i.e; Elliot Wave or Zig Zag Pattern, Trading Dynamic Sequentials with Divergence, RSI with Divergence, Speculative Sentiment Index with Divergenc - keeping in mind the direction of the pair as explained in the initial trading plan.
5. Don't give up hope. If I can do it, you can too my friend.