EURCHF | Short H1 | Market Exec | Taking a Safe Haven TradeTechnical Confluences for Trade:
- Stochastics are in Overbought Conditions on H4 & D1 time-frame
- Price action is at a Consolidation/Supply area
- Price action may reverse towards the lower Consolidation/Demand area
Suggested Trade:
Entry @ Area of Interest 0.9815 -0.9835
SL @ 0.9879
TP 1 @ 0.9767 (Close Half-Position & move SL to Entry level once TP1 is achieved)
TP 2 @ 0.9707
Risk-to-Reward @ Approx. 2.00 (Depending on Entry Level)
________________________________
Boosts 🚀, Follows ✌️, Shares 🙌 & Comments ✍️ are much appreciated!
If you have any ideas or charts, do share them in the 'Comments' section below and we can discuss our perspectives to improve or strengthen our strategies.
If you want something analyzed, do drop me a DM. :D
________________________________
Disclaimer: The above suggestion is an personal opinion in general and does not constitute as investment advice. Any decisions taken based on the above suggestion is purely your own risks.
Any websites / brokers / applications suggested here are also provided as informational purpose only.
________________________________
Risktorewardratio
EURGBP Position RR 1-110 (Technical)Yesterday I have Entered this trade with 5 pips stop loss using 2% of my bank account. Currently it moved 50 pips in my direction. I just put it a bit above breakeven.
Entry Reasons:
On Montly/Weekly we can see that:
1) The price is slowing down.
2) On weekly chart we can see a Falling wedge formation.
3) Plus it is on monthly support level.
4) Also we can see the RSI MACD Divergence.
So, in summary on technical side this pair is bullish. Will closely look at its fundamentals in process.
My entry was: 0.83101
My Sl: 0.83151
My TP: 0.85601
PS: I wont move my SL to make the price more space to move.
Will Update frequently.
Gold verses the Dow Jones Industrial Average Gold is a forgotten asset. Just today I am seeing news where BlackRock has near zero holdings of the metal. The chart says there is very little downside left for the yellow metal. This trade is weighted heavily in favor of gold doing well over the next decade or more.
BITCOIN'S BULLISH REVERSAL CONFIRMED!As continuously discussed over the last few weeks, both here and on the YT channel, we've long welcomed a fakeout down below the very key $30 000 support zone, but given that it would recover aggressively and at massive trading volumes.
We have now gotten EVERYTHING we've asked for and more in Bitcoin, and for those reasons there is a strong chance the bottom has in fact been set, and that new all-time highs are within reach.
What then are the things that further confirm this bullish reversal case?
1) As marked on the chart, we had a fakeout that turned into a bullish hammer on the 4-hour chart - and at significant trading volumes at that to let us know that the bulls are in full control and that they control the support zone.
2) The support zone held up. This is important as there is no support to speak of below until the previous all-time high at around $20 000.
3) The RSI is showing healthy patterns of recovery. This slow, gradual increase is a textbook sign of emerging strength.
These would all individually speak of strength. Now they come together as a force and I am convinced enough about this being a reversal to have moved all-in, not in Bitcoin, but in Marathon Digital Holdings, as it moves exponentially to that of Bitcoin.
Of course, there are still dangers lurking about. IF the price were to break below $30 000 again, then expect a brutal capitulation drop to take place. Luckily, there's a lot of built-up strength on the charts now to render that possibility unlikely. With that said, I will release EVERYTHING should Bitcoin break below again. One test below was the bullish fakeout to shake out the last weak hands that we asked for. A second revisit would change everything for the worse.
With that said, I am highly optimistic about this. And given that I bought in again at $33 000 equivalent, the stoploss is $3 000 below. But ... given that new all-time highs are fair to assume given the five month long wait in combination with the fact that we're technically still in a mark-up, $90 000 should be a conservative number before any significant correction of -20-30%. This means that the upside is $57 000 whereas the downside is $3 000. This gives us 19:1 in odds.
What this means is that as long as there's at least a 5% chance of this having been the bottom, then it's mathematically worth taking a long trade. And, I'd say it more than fair to assume that the chances of this being the bullish reversal we've been waiting for is far higher than 5%.
Intra-day Long & Swing Short SetupIntra-day:
Looking for a pullback to retest the recently broken hourly trendline in confluence to our 0.618 fib retracement and a strong hourly support area.
Swing:
Assuming the intra-day setup plays out in accordance to the plan, a strong short setup is formed on the respectable descending trendline in confluence to the outer 0.618 fib retracement and previous S&R area.
Bankroll and Risk Management, Risk to Reward Ratio - EDUCATIONALIn this example I am showing you how important is RIsk Management in your trading system.
You could be the most talented trader in the world with a natural eye for investment opportunities, and still blow your account with one bad call without proper risk management. No matter how good you are, or how experienced you are, you’re still going to incur losses. Even the best traders in the world suffer losing trades - it’s part and parcel of trading. That’s why risk management is so important to your trading.
One way that you could strike the right balance between reward and risk is to stick to a reward:risk ratio such as 2:1 or even 3:1, where your targeted profits are always double that of your maximum losses. So even if you suffer three losing trades, you’ll only need two profitable ones to ensure your total profits outnumber your losses if you stick to this reward:risk ratio. Although it’s not a general rule to follow, it can help you to visualise a specific approach to risk management.
"It's not important whether you are right or wrong. It's about how much money you make."
That means that you can still win 4/6 trade and you are still loosing money.
In the example showed you can see that investing different amount of money in each trade can drive to a negative ROI even if yours winning rate is over 66% .