FAIL TO PLAN - PLAN TO FAIL
So this trade plan is fairly simple.
Rules to Follow
1. First and foremost, we need a break and hold above the descending trendline
2. Second, if or once we get the bullish breakout, we need price-action to pull back approx 50% of the bullish breakout impulse. This setup doesn't need a full pullback to support, which is currently triangle descending resistance.
3. Enter a small enough lot size to allow an additional equal or slightly larger lot to be executed again on the long side if price-action happens to go against the trade by 100 pips.
On the chart, I left a comment in yellow showing where I plan to add a second long entry.
If all out fails and price action breaks above the descending trendline and then decides to close back below this trendline that I'm referring to, I'll exit the trade and book a loss.
That's it - That's all
Trade Safe!
So this trade plan is fairly simple.
Rules to Follow
1. First and foremost, we need a break and hold above the descending trendline
2. Second, if or once we get the bullish breakout, we need price-action to pull back approx 50% of the bullish breakout impulse. This setup doesn't need a full pullback to support, which is currently triangle descending resistance.
3. Enter a small enough lot size to allow an additional equal or slightly larger lot to be executed again on the long side if price-action happens to go against the trade by 100 pips.
On the chart, I left a comment in yellow showing where I plan to add a second long entry.
If all out fails and price action breaks above the descending trendline and then decides to close back below this trendline that I'm referring to, I'll exit the trade and book a loss.
That's it - That's all
Trade Safe!
➡️ Personal michaelharding.ca
➡️ Managed Forex Accounts manage.forex
➡️ Passing Services wepasschallenges.com
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➡️ Managed Forex Accounts manage.forex
➡️ Passing Services wepasschallenges.com
➡️ Premium Expert Advisors iqalgos.com
➡️ 1-on-1 Mentorship financialmarkets.academy
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
➡️ Personal michaelharding.ca
➡️ Managed Forex Accounts manage.forex
➡️ Passing Services wepasschallenges.com
➡️ Premium Expert Advisors iqalgos.com
➡️ 1-on-1 Mentorship financialmarkets.academy
➡️ Managed Forex Accounts manage.forex
➡️ Passing Services wepasschallenges.com
➡️ Premium Expert Advisors iqalgos.com
➡️ 1-on-1 Mentorship financialmarkets.academy
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.