Hi
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.
The strategy
Step 1
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.
Step 2
Draw trend lines that connect on HH and LL.
Insert the 50EMA
Step 3
Identify support and resistance levels for entry.
Step 4
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
