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Newbie strategy 😂

Strategy used Support and Resistance ======
1. Identify The Consolidation Zone (Draw out the Support and Resistance. The zone built since Nov 16th 2023
2. Start to build position near Support, calculate the risk and reward ratio. According to my chart, its 1 to 3.78. The trade played out, i manage to get 20%+ gains. However, if the trade didnt play out and drop break my support line, i will face 6.9% lost. and stop lost below 66.6 price point.
3. First entry on April 12th at 71.42, and second entry on May 14th at 78. Second entry its because of the breakout of resistance, I waited it to retreat the price back to resistance line to test support. And Hoorayyy!!! its working. My price now average to 74.71.
4. There will be two more resistances 90+ and 100. I am planning to let the profit grow, as the fundamental is good and will look for more retreat to increase my position. For coming strategy, I will use be Fibo strategy to spot the retreat.
However its not financial advice, just sharing my trading plan for education purpose.
Newbie strategy 😂
Newbie strategy 😂
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only. Read more
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