$LRC at High Confluence

11 Şub 2023

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.

11 Şub 2023

İşlem aktif

Orders filled.

16 Şub 2023

Not

Bringing my SL to breakeven.

16 Şub 2023

Not

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.

16 Şub 2023

Not

Booked some profit by moving SL higher @0.43

17 Şub 2023

İşlem elle kapatılmış

Missed the target by few points, 0.43 hit. Signing off