I’m entering short position based on trend following principle.
Longer are in oversold zone, but shorter stochs show good levels to enter short positions.
I did not see this trade yesterday.
Trade: Sell Limit
Lot Size: 0.03
Stop Loss in Pips: 100
Take profit in pips: 200
Risk of Equity: 2%
My Trading Checklist
ARE THERE MAJOR RISK EVENTS TODAY/THIS WEEK: No
Is the market risk off or on? SP500 , DAX , NIKKEI. Are the down or up: Risk Off
Is this trade with the trend?: Yes
Did I see it yesterday?: No
Is this a pullback measured by Fibs?: No
Am I buying support?: N/A
Am I selling resistance?: Yes
Is this entered during London’s session?: Yes
Did the price pulled back from 200MA on 15Min?: Yes
Are stochs extreme on multi charts?: Yes
Where is the price in terms of Points?: Resistance
Please share with other traders in the community. Its a money saver.