So yesterday i took a trade on EURUSD,and as every trader took a loss,so lets try to explain why did a loss happen,as said i took a sell because i saw 0.5 fib being respected and rejected,and my entry was good,but as u see i didnt draw a blue line that hold my price from going down I should wait for a better confirmation and BOS-Break of structure or some kind of...
After reaching the price on my 2 days go analysis, price went up in a long formation breaking the H4 downwards channell. I took longs for a 170 pip trade. Will wait until price forms again to see possible next moves. Will update soon.
IOTAUSD Reward Risk 4.57, 4.28 Lotsize Meta Trader 4 Terminal 4568.90 USD Reward 0999.38 USD Risk 4.57 R-Multiple
EURUSD 3.88 REWARD:RISK Risk $3,150.00 Stop-Loss, Pips 31.5 Lotsize 10.000
Please find information in the chart bubbles. good luck and have fun trading! always focus on money management. you can take a lot of 1% losses but your account can only handle a view big losses, right? when you lose 10% e.g. 1000$ of your 10k account then you have 9000 left. the next 10% risk trade is only 900$, so the potential winning gets smaller, too. after...