Today marks the start of displaying TradingView Charts as opposed to MetaTrader4 Charts. Because the greater majority of my trading is done exclusively on Daily Charts by definition this makes me a Swing Trader (someone that takes trades and holds them for a day to a few days. When I grow up I hope to be a Position Trader (holding trades from a week to a few weeks!).
And in order to update you lovely folks more often in a more consistent manner, it is essential that I use something that you can all refer to yourselves, so enter TradingView. On with the trade...
This was a very simple trade, based off of a 'W' Formation in the RSI. Using a standard Risk:Reward ratio of 1:2, I hope to double the amount I am risking on this trade.
You will also notice an 'observational take profit (TP)' in the chart above, more on this later.