My name is Odera I am from Kenya. I am not a complete novice. I will be posting trend trading setups in the coming weeks. I trade these set ups and while some of these plays attract loses a few also attract profit. I hope to have a nice journey. I risk 8% of the account, and trade extremely small accounts with a Risk Reward of at least 1:2. The goal is to grow $10 to $100 accounts into the tens of thousands. Some set ups have R:R of even 1:8.
Identify a trending market that is recording advances and pullbacks. Ideally, the trends should be recording Higher Highs and Higher Lows on an uptrend and lower Lower Highs and Lower Lows on a down Trend.
Draw trend lines that connect on HH and LL.
Insert the 50EMA
Identify support and resistance levels for entry.
Once these levels are reached on the pullback make your entry.
Here is the first play . Its on the USDCHF pair.
Entry was at 0.9020
Stop loss was at 0.9050
Take profit is at 0.8950
With a R:R of 1:233
The figure below shows the trade