Initiated a short position here. Looking for 10% gain. Stop loss at 5%. 2-1 risk/reward ratio. Will be mainly using the pitchfork and as a visual guide, and using my macd signals for alerts. For the last 2 months, if you initiated short position at the upper band of the channel just after the (close long) alert signal, and closed short position at the first (open long) alert signal, then you would have 3 successful trades for about 10% profit each.
If for some reason, the price breaks out of this pitchfork channel, then the strategy is voided. Profitable alert signals rely on heavy volatility, that's why I'm covering triple-leveraged ETF.
If for some reason, the price breaks out of this pitchfork channel, then the strategy is voided. Profitable alert signals rely on heavy volatility, that's why I'm covering triple-leveraged ETF.
تعليق:
If there is a conflicting signal soon after position is initiated, then close the position. Or else wait for price to hit 4% stop loss price