$LRC at High Confluence
Updated
As a trader one must always look for a High Confluence setup. At least 3 technical points should meet at each other to be called as high confluence setup.
In this case of
LRC
1. Price crossed trendline
2. Support zone successfully retested and created a demand.
3. Price also reversed from 50% Fib retracement.
I am loving this, I am taking trade in it with entry, exit and stop loss clearly marked in the picture.
In this case of
LRC1. Price crossed trendline
2. Support zone successfully retested and created a demand.
3. Price also reversed from 50% Fib retracement.
I am loving this, I am taking trade in it with entry, exit and stop loss clearly marked in the picture.
Trade active
Orders filled.Note
Bringing my SL to breakeven.Note
The price went two third against us but it didn't hit our stop loss, one must always have an idea of average true range of price and place SL accordingly.Note
Booked some profit by moving SL higher @0.43Trade closed manually
Missed the target by few points, 0.43 hit. Signing off
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