It's been hard to find a low risk entries within this correction. Here are two contenders. First bite at the 38.2 and the channel support, second at the 50%. 3-to-1 risk/reward on the 1st. 8-to1 on the second if it's available for a fill. Traders choice.
You may not see this opportunity again anytime soon. But, there are no certainties in trading. Keep the size appropriate to your account size so if stopped out, the hit is manageable. There are certainly nervous longs so, it would not take much to see the market sell off some with the tighter stops being hit.
Hi tradedevil
Thanks for the post and information.
Would it be possible for you to teach me how to determine the risk reward ratio. Or how to did calculated above I formation?
Many thanks in advance.
tradedevil
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@babakmb, It's built right in to tradingview. On the tool bar. 7th on down; you'll see "long position" and "Short position" just add those to the chart. Simple
Thanks for the post and information.
Would it be possible for you to teach me how to determine the risk reward ratio. Or how to did calculated above I formation?
Many thanks in advance.