I entered this trade today in a nice area. I consider this a risky trade since fundamentals are in play level hard these days. Take the risk or loose the chance, usually I enter with 1% risk in my positions, this one I entered and nailed it risking 5%, took partial profits cuz I'm waiting for market manipulation and the trading is running now at 2% risk
But seeing things in a bigger picture, GU after Brexit and Covid it's ranging significantly around this entry area that has been a strong resistance, which we tested above last month when things were more optmistic. But we're going to take a while to recover.
So I'm definitely expecting to ride this downtrend and that's why my stop loss is wider, I'm expecting market manipulation, fakeouts, which I can handle and even take another entry above if it happens with 3% risk.
But with the economy right now I don't think we have a chance of breaking above this down trend channel and the only way it's down.
So it's going to be a nice swing trade.
Well, let's see...
But seeing things in a bigger picture, GU after Brexit and Covid it's ranging significantly around this entry area that has been a strong resistance, which we tested above last month when things were more optmistic. But we're going to take a while to recover.
So I'm definitely expecting to ride this downtrend and that's why my stop loss is wider, I'm expecting market manipulation, fakeouts, which I can handle and even take another entry above if it happens with 3% risk.
But with the economy right now I don't think we have a chance of breaking above this down trend channel and the only way it's down.
So it's going to be a nice swing trade.
Well, let's see...