As a trader one must always look for a High Confluence setup. At least 3 technical points should meet at each other to be called as high confluence setup. In this case of LRC 1. Price crossed trendline 2. Support zone successfully retested and created a demand. 3. Price also reversed from 50% Fib retracement.
I am loving this, I am taking trade in it with entry, exit and stop loss clearly marked in the picture.
交易進行
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Orders filled.
評論
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Bringing my SL to breakeven.
評論
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The price went two third against us but it didn't hit our stop loss, one must always have an idea of average true range of price and place SL accordingly.