Review of my strategy for starting out - thanks

Beginner Questions
1

Hi All,

Does the below strategy look sound as a starting point for a round of demo testing?
The strategy is pretty simple and basic with not loads of indicators or steps so hopefully not too difficult to stick to.

It mainly uses price action and S/R lines
Time frame - daily & 4hr

ENTRY

  • Entry must be with trend - Trend defined by my analysis not an indicator
  • Entry must be around S/R area or Trend line - Trend line with at least 2 hits

PRICE ACTION

  • Indecision (pin) candle required
    or
  • Engulfing candle with three previous candles smaller

RISK

  • Max 0.75% - lot size scaled to meet this in conjunction with stop placed at a either 1.5ATR or slightly beyond a previous high or low

REWARD
2 to 1 risk ratio minimum
first take profit just below next major support or resistance

Let me know your thoughts thanks

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