Certainty: Medium
Risk-Reward: GOOD
Green --> Most likely and I'm trading it
Blue --> Really good reward but it's a stretch
Purple --> It's not likely but it might happen and it invalidates our trade
That's why we should risk a little and add accordingly as the certainty arises.
If purple starts to play out we can trade it well too.
Keep your risk low, protect your capital.
Risk-Reward: GOOD
Green --> Most likely and I'm trading it
Blue --> Really good reward but it's a stretch
Purple --> It's not likely but it might happen and it invalidates our trade
That's why we should risk a little and add accordingly as the certainty arises.
If purple starts to play out we can trade it well too.
Keep your risk low, protect your capital.
Note
We planned this scenario, and the market followed which gives us just a little more certainty but it doesn't really mean much because we have new scenarios now.
Note
I'm reducing the risk on the trade, It's not the best SL in the world but i rather be out there then keep this position any longer. It gives great Risk-Reward Ratio 1:7
and not that certain but I only have 0.5% risk.
SL @ 1.3010
Trade closed: stop reached
Okay stopped out and loss of 0.5%, we could've cut earlier. But this was the best Expected Value scenario with minimal risk.
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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.