Tadawul: 2030 Al Masafi Long Position
Background
2030 in bearish market since 18th of Jan 2022 (156 d) with a loss of 46.99% (69.98)
Current Situation
The recent oil price hike observed a series of trend reversal candle stick patterns consisting of Morning Star, and Tweezer Bottom Pattern in succession during the past 8 days (since 20th June 2022)
Trading Strategy
2030 in bearish market since 18th of Jan 2022 (156 d) with a loss of 46.99% (69.98)Current Situation
The recent oil price hike observed a series of trend reversal candle stick patterns consisting of Morning Star, and Tweezer Bottom Pattern in succession during the past 8 days (since 20th June 2022)
Trading Strategy
- Entry Point = 92.10
- Stop Loss = 88.70 (30 points less than Low of 1st candle of bottom tweezer t avoid stop loss hunting)
- 1st Target or T/P = 95.5
- Portfolio Size = 1000
- Risk = 2%
- Risk/Reward Ratio (R/RR) = 1.0
- Qty = 5
- Total Investment in Trade = 460.5
- Maximum Possible Loss @ Stop Loss = 460.5 - 443.5 = 17
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