Double Repo Pattern was formed in Day time frame. Seeking to enter Long Position. I will long when the price break through resistance
Long Position
Entry Point (EP) : 11570 (Minor Resistance from FR 0.618)
Stop Loss (SL) : 10600 (Minor Support from FR 0.382)
Take Profit (TP#1) : 14000 (Major Resistance)
Take Profit (TP#2) : 16000 (Major Resistance)
Money Managment
I can loss only $1,000 (2% of my portfolio)
From EP to SL, it is 970.00 Tick = $970.00
To loss $1,000, I need to open 1.0309 BTC
If I win, I will gain (2,430 Tick * 0.51545 BTC) + (4,430 Tick * 0.51545 BTC) = 3,535 USD
Long Position
Entry Point (EP) : 11570 (Minor Resistance from FR 0.618)
Stop Loss (SL) : 10600 (Minor Support from FR 0.382)
Take Profit (TP#1) : 14000 (Major Resistance)
Take Profit (TP#2) : 16000 (Major Resistance)
Money Managment
I can loss only $1,000 (2% of my portfolio)
From EP to SL, it is 970.00 Tick = $970.00
To loss $1,000, I need to open 1.0309 BTC
If I win, I will gain (2,430 Tick * 0.51545 BTC) + (4,430 Tick * 0.51545 BTC) = 3,535 USD
Trade closed: stop reached
SL at 10600
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.