Price has move as per what has been planned last week
We may likely to see a retracement process before the price spike to the next Daily level
I use fibo number to identify the level of price may go and trendline (in red color) to measure if the price would retrace further down to the monthly/weekly level
If the price did break my trendline, i'll trigger my SL and wait for the price at ideal level with better RR
Important Note:
*There is no right or wrong setup, the important is a need to understand on how to manage our trade by knowing:
1. When to exit from the market when the price didn't go to our direction
2. When to hold and scale our trade when the price is in favor to our direction
3. When to secure our profit
* In trading, is either we make a large profit, small profit or we breakeven
Cheers!
We may likely to see a retracement process before the price spike to the next Daily level
I use fibo number to identify the level of price may go and trendline (in red color) to measure if the price would retrace further down to the monthly/weekly level
If the price did break my trendline, i'll trigger my SL and wait for the price at ideal level with better RR
Important Note:
*There is no right or wrong setup, the important is a need to understand on how to manage our trade by knowing:
1. When to exit from the market when the price didn't go to our direction
2. When to hold and scale our trade when the price is in favor to our direction
3. When to secure our profit
* In trading, is either we make a large profit, small profit or we breakeven
Cheers!