Our original low risk trade got stopped out with a minor loss. However, our 2nd attempt is looking more promising.
As traders we must always be comfortable taking small losses and big wins, that's the formula to make your equity grow.
However, the long tail wick is showing the buyers have a voice
The sellers are struggling and were unable to push this down further.
A LONG reentry has been made with a potential 4.5:1 Risk Reward.
Although the more adventurous can look for a higher target yielding a near 10:1 Risk Reward
RISK AS ALWAYS IS CONTROLLED. DONT JUST LOOK AT THE POTENTIAL PROFITS.
Same stop loss and entry.
Hope that helps.
Author: Sean Vengan, Professional Cryptocurrency Trader and Trading Educator
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