If you followed my earlier sell idea , we were selling based off of the confirmed downtrend and retest of the 26 ema on the daily time frame. This plan failed.
SO now we have a new plan. This pair has just made a 786 retracement on the swing low. This means it moved up 78 percent of the last swing low. This is a Fibonacci reversal area and this is exactly why I am entering again. It is okay to lose a trade as long as we are following the trend on the daily time frame and trading everything really small. I lose less than 1 percent of my account with that trade. So now I can re enter because I did not go very big. This is how you must trade every week.
SO now we enter again!!! Very Small... stop loss is right above the current daily candle. If we lose... we are trading so small that it will not hurt us.
Good luck everyone.
SO now we have a new plan. This pair has just made a 786 retracement on the swing low. This means it moved up 78 percent of the last swing low. This is a Fibonacci reversal area and this is exactly why I am entering again. It is okay to lose a trade as long as we are following the trend on the daily time frame and trading everything really small. I lose less than 1 percent of my account with that trade. So now I can re enter because I did not go very big. This is how you must trade every week.
SO now we enter again!!! Very Small... stop loss is right above the current daily candle. If we lose... we are trading so small that it will not hurt us.
Good luck everyone.