Welcome to a potential trade setup as a part of the "Aglogains - Daily Trade series".
We entered a scalping trade in the morning looking to scalp a few points from the market but the bears had a different idea. Unfortunately, our trade got stopped out, but booking losses are an unavoidable part of your trading system.
That is why it is so important to manage your position sizes and risk. As a general rule, I recommend not risking more than 2% of your entire portfolio on any single trade.
We are waiting for the market to take a breather after this rally and see some profit-taking and sell-off, looking for a pullback to 2480-2460 levels. This previous resistance should act as support for another upward movement.
My trade setup is possibly going to look for trading opportunities at this resistance turned support level
Will keep you posted on the progress.
We entered a scalping trade in the morning looking to scalp a few points from the market but the bears had a different idea. Unfortunately, our trade got stopped out, but booking losses are an unavoidable part of your trading system.
That is why it is so important to manage your position sizes and risk. As a general rule, I recommend not risking more than 2% of your entire portfolio on any single trade.
We are waiting for the market to take a breather after this rally and see some profit-taking and sell-off, looking for a pullback to 2480-2460 levels. This previous resistance should act as support for another upward movement.
My trade setup is possibly going to look for trading opportunities at this resistance turned support level
Will keep you posted on the progress.
