This Idea provides a huge risk reward of 85 if done properly else 50 is also reasonable. I've added a chart of someone else which should be a reasonable addition. But remember...
Trading is not about being right or wrong. Trading is not being in the market all the time. But it is a response center where you check your analysis. Do you want a infinite cost to check if your analysis is wrong? Then don't use a stoploss. Do you want an infinite return which could possibly turn into a loss due a long period? Or do you want a set goal which is hit?
Trading is not only analysis but also your mental state. Mental control or mental analysis is what makes you a winner.
Trading is not about being right or wrong. Trading is not being in the market all the time. But it is a response center where you check your analysis. Do you want a infinite cost to check if your analysis is wrong? Then don't use a stoploss. Do you want an infinite return which could possibly turn into a loss due a long period? Or do you want a set goal which is hit?
Trading is not only analysis but also your mental state. Mental control or mental analysis is what makes you a winner.
