CRON - Two Tries & Fail Trade
- CRON had a 300% increase in price between 2018-2019
- Followed by a seemingly healthy technical correction reaching the 618 Fib level
- Now, price has attempted to break that level twice, and failed
- On RSI, trend-line was broken and new higher low formed
- It has also formed a textbook bullish candlestick pattern on second attempt
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- Therefore two trade ideas can be generated with entries and stop loss being based off
the supporting demand zone or the candlestick pattern.
- The candlestick pattern allows you to risk more and take profits quicker, by having a smaller stop loss and allowing a higher number
of shares to be bought, but comes with higher risk of volatility taking out this stop loss before profits can be realized
- Risk may be placed on ONE idea or DIVERSIFIED into the two trading plans.
- Both trading plans have their own stop loss and both meet their individual required limits of at least 1:2 Risk/Reward
Disclaimer: Always ***measure & accept*** potential risk before entering any trade.
- Followed by a seemingly healthy technical correction reaching the 618 Fib level
- Now, price has attempted to break that level twice, and failed
- On RSI, trend-line was broken and new higher low formed
- It has also formed a textbook bullish candlestick pattern on second attempt
----------------------------------------------------------------------------------------------------------
- Therefore two trade ideas can be generated with entries and stop loss being based off
the supporting demand zone or the candlestick pattern.
- The candlestick pattern allows you to risk more and take profits quicker, by having a smaller stop loss and allowing a higher number
of shares to be bought, but comes with higher risk of volatility taking out this stop loss before profits can be realized
- Risk may be placed on ONE idea or DIVERSIFIED into the two trading plans.
- Both trading plans have their own stop loss and both meet their individual required limits of at least 1:2 Risk/Reward
Disclaimer: Always ***measure & accept*** potential risk before entering any trade.