Risk Management-Currency TradingHello traders,
-I have an interesting subject on Risk management on this post.
-Most traders struggle with risk management, how much to risk per trade, what lot size to use, etc. etc. I know this because I struggled too before I sat down and thought hard and wrote this.
-What are your thoughts on the same?
-Critics will highly be appreciated too as we try learn the markets together.
-Hopefully my context on the topic helps someone.
-Regards,
Bigshadow
Possible Double TopHey Guys just an IDEA. So seeing a bit of a rejection at the resistance zone again, possibility of a double top happening. It broke out of two trend lines and now its retesting a zone. So lets see how the 1 hour and 4 hour candles close. On the 1 hour it kinda closed with a big shadow/bearish engulfing candle stick but went back up. Might be forming a double top on the 1 hour chart as well. If it breaks to the top we could enter a buy trade once it retests or if the price doesn't break we can see a double top on the 1 hour chart and enter possible sell trades. Lets see how it plays out. Happy trading.
EURJPY short RSI overbought about to touch .786 retracement- EURJPY made a jump of 80 pips in 4 hours.
- Waiting for Kangourou Tail to form with a high above .786 retracement and close at or below the retracement. Or, wait for Big Shadow to form
- RSI is overbought
Entry :
- Wait for Kangourou Tail or Big Shadow to form then put sell order below the low of it
Exit :
- S/L above high of Kangourou Tail or Big Shadow
- T/P above .382 retracement might change it to .236 afterward
AUD/USD - Bearish Engulfing Candle on Key Resistance + TrendlineNot the cleanest, but still a convincing naked set up on AUD/USD. Nothing is better then price reacting to the intersection of key support/resistance and a long term trend line. My favorite set ups!
- Price stalled out at key resistance of (0.76000)
- Bearish engulfing candle 1D
- Double top Pattern (4hr)
- Bouncing off long term bearish trend line
- Aligned with trend