There are some people that complaint i put a strategy only when the price already goes up....so now I'll write what strategy i will use to trade this counter based on today's price action.
Strategy 1: Enter at current price @ 0.30
Stop: 0.255
TP: 0.335
Risk: 0.045
Reward: 0.035
Risk Reward Ratio: 1:0.77
This strategy is undesirable because it's RRR does not meet my criteria.
Strategy 2: Wait until it reach the resistance (0.335), and retrace back to 0.30. If it does not break, you can enter at 0.30, and place your stop slightly below (0.29, 0.285....depend on your tolerance)
Enter at current price @ 0.30
Stop: 0.28
TP: 0.335
Risk: 0.02
Reward: 0.03
Risk Reward Ratio: 1:1.5
Still did not meet my criteria, but then again, there is potential formation of inverted head and shoulder. so if u up for a little bit of gambling, then why not! haha.
Strategy 3: Wait until it breakup 0.335. The next TP is 0.39
Enter at 0.34
Stop: 0.32
TP: 0.39
Risk: 0.02
Reward: 0.05
Risk Reward Ratio: 2.5
The RRR is sufficient enough to take the risk.
The choice is yours.
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