Using 8x leverage max loss is two percent. Channel resistance and RSI oversold making this a high probability trade. Set the stop loss and sit back. Additional take profits are advised if using greater leverage though not really advisable to open oneself up to more than a 2-2.5% loss per trade. With my strategy of Resistance + RSI oversold using around 4:1 risk reward one only needs to be around 33% of the time and this is high probability$$$$.
If you agree hit the like/agree button. If you don't tell me why in the comment section or through private message.
If you agree hit the like/agree button. If you don't tell me why in the comment section or through private message.
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a lower take profit would result in a higher probability for this one. I personally recommend a slightly lower take profit.
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4:1 take profit is best because of resistance over .89
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Good thing the entry reversal never happened
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This is still potentially a false breakout
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Yeah. don't enter trade if it doesn't respect resistance
