After watching Adam Khoo's video, I added another tool for analysis.
Using Simple Moving Averages of 50, 150 and 200 time period.
My logic for opportunity is to look at whether is it an uptrend or down trend first.
How? Is 150 and 200 SMA sloping upwards?
Next, look at the price now, is there a retracement from the upward trend?
(Sometimes the 150 and 200 SMA are a form of resistance)
(Sometimes the 150 and 200 SMA are a form of resistance)
If so, it is a buying opportunity.
I am risking USD 138 for this trade.
Placed the Stop Loss below the lowest point on 2 Oct 2019.
Some words from AK along the lines of "we are not trying to predict the market. We are just trying to follow it. When it is going up, we follow it. When it is going down, we follow it."
Some words from AK along the lines of "we are not trying to predict the market. We are just trying to follow it. When it is going up, we follow it. When it is going down, we follow it."
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