Long On GBPAUD

8 בפבר׳ 2023

Buy Entry On GBPAUD.

As A Trader I Completely Believe On Sentence " TRADING IS SO SIMPLE (If We Stay Consistent & Discipline With Our Strategy) BUT NOT EASY (If We Start Breaking Are Trading Strategy Rule.)"

"Below All Conditions Are Meet To Take Long Entry On GBPAUD"
(1) Entry Price - 1.73036
(2) Stop Loss - 1.72416
(3) Take Profit - 1.74834

TIMEFRAME - 1 HOUR

Here I'm Going To Explain My Own Strategy Step By Step With The Help Of Word - "CEST - B" Where ,

"C" Stand For - CONDITION

(1) RSI For Long Entry - I Want RSI(14) In Oversold Area(30Level).
(2) RSI For Short Entry - I Want RSI(14) In Overbought Area(70Level).
(3) Candlestick For Long Entry - Need Bullish Big Shadow candle When RSI Is In Oversold Area.
(4) Candlestick For Short Entry - Need Bearish Big Shadow candle When RSI Is In Overbought Area.
(5) We Need Regular Divergence If RSI Is Not In Overbought or Oversold Area When Big Shadow Candle stick Formed.

"E" Stand For - ENTRY

(1) For Long - Opening Price Of Previous Candle Of Bullish Big Shadow.
(2) For Short - Opening Price Of Previous Candle Of Bearish Big Shadow.

"S" stand For - STOP LOSS

(1) For Long - ATR(14) Of Bullish Big Shadow + Distance From Entry Price To Low Of Bullish Big Shadow + 2Pips Extra ( Spread).
(2) For Short - ATR(14) Of Bearish Big Shadow + Distance From Entry Price To High Of Bearish Big Shadow + 2Pips Extra ( Spread).

"T" Stand For - TAKE PROFIT

Take Profit Will Be 2.9 Times Of Our Risk Which Means If Our Risk On Single Trade Is 3% Then Take Profit Will Be 8.7% .
Risk - Reward Ratio - 1:3

"B" Stand For - BREAK-EVEN

(1) For Long - If RSI(14) Reach To Overbought Area We Will Move Our Stop Loss To The Break-Even.
(2)) For Short - If RSI(14) Reach To Oversold Area We Will Move Our Stop Loss To The Break-Even.

NOTE - Consistency & Discipline Is A Key Element Of Success.