The price at potential support:
- Long term rising
- 78.6 for major wave
- 1.618 for latest wave
- RSI Oversold and showing divergence
- Long legged doj candle
Entry: Buy limit at 0.9705 - T1: 0.9813 - T2: 0.9950 - SL: 0.9640 - Average RR: 2.71
All my trades will have Risk of capital per trade of 2%
Stats before this trade:
Number of trades: 4
Winning Trades : 1 Losing Trades: 2 Still active: 1
Net return: -0.4%
-Never risk more than 2-3% of your balance on a single trade. And If you are a beginner 1%.
-A Single or few trades result is not important. Whats important is the net return at the end of the month, quarter and year.
Why? With all the due respect for the efforts and everything you guys believe in, I tell you why: because S/R based counter trend trading does not work, in spite of whatever whichever trading guru tells you, did never work and will never ever work either... but on the chart it looks good, as a setup, every setup gives you hope... but trading should not be based on hopes and prayers but statistics and math... right?