low risk sell entry??

On the H4 chart, the price seems to be rejected by the confluence of the two trendlines. Even though the price rejection is not yet confirmed, I decided to go short as the stoploss is only 97 pips away.

Meanwhile, the 1st profit taking objective is at the region of the previous low; therefore, the reward:risk ratio is about 2:1 which is acceptable.

Below is the H4 chart as of 6 am Malaysia.

5 pm - Stoploss hit. Will stay out of market now.


Post a Comment

You are welcome to post comments. However, please do not use Anonymous as your ID. At least, put in your initials for easy reference in further conversations.