I decided to open few trades via the 1 Day chart with 4 hour chart reference as the entry and exit chart.
Pair: EUR/USD
Entry: 1.25678 SJF Average Trade Rating:39.93%((as of today)
Stop Loss: 1.26460 Risk: High risk for overnight postion
profit: 1.23539 Objective: Overnight position
Trade plan: Technical rating: 53.13%
After calculating all Trade factors. I was able to find out that this is high risk for overnight position. I decided to open small positions. Review of trade rating will be re asses tomorrow at the Asian Session and another review at the London Session. If the rating will improve, I'm Planning to open more positions for this pair.
I decided to open this position due to the 1 year resistance level which the pair touched today. I believe the market will respect the 1 year resistance which was confirmed twice.
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To maintain my risk management, I decided to open a small lot until 1 day MACD and other technical factors and thus Technical rating will increase.. This will increase my chance in putting my trade in favor of my position and confirm some fundamental factors.
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