This trade looks very promising. The market is currently moving in a descending triangle as shown. This means lower lows and lower highs. We are currently approaching the low of the edge of the triangle. Secondly, the 50 Period EMA has been dis-respected therefore we expect it to bounce back from it. Thirdly, the market is moving above the 200 EMA supporting the...
ENTER AT OWN RISK, MUST TAKE RISK MANAGEMENT PRECAUTIONS
- Broke through strong long term support zone
- DXY reflection
- Broke past golden ratio 61.8%
- Bearish momentum based on HH & LL
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The probabilty of a long trade is high because the market has come very close to the support line and has not broken past that.
The market is at a bullish uptrend.
The last bearish candle has not exceeded the bullish candle.
As mentioned before I am new to trading so any feedback is welcome :)
Due to the market being very bullish it is a higher probability that the market will go long. The Bears might push down to the support line and then the market may pick up and go long.
I am new to trading so any feedback will be great :)
In this screencast I show some of my positions which are mirrored on my live account. I say that blowing up Tradingview paper accounts is a good thing. The present account has not been blown up for about a year, which is much better than before. I used to blow up an paper account every 3 to 6 months before. It's a very safe space to gain experience, to fail...