My very 1st IDEA

17 may 2023

Hello Fellow Traders,

please feel free to comment on this type of setup. I have used a similar setup on eurusd and noted that it has played out after sometime.
setup consists of 6 trades - 3 Long & 3 Short covering range from 1580 to 2280. I use 5x. noted 19th has Fed Speech so could rip through all my closer entries.

1HR TimeFrame
TB FIB TOOL used.

17 may 2023

Nota

LONG 1 - ACTIVE

17 may 2023

Nota

LONG 1 - Stopped Out
Loss 6.3%

5 ene

Operación cerrada: precio stop alcanzado

reflecting on this setup.
all stops hit.
price kinda played out within total range.
Long 3.6% or $60 drawdown
Short from top of range ran a 7.5% or $165 drawdown. currently it would be 1.6% or $38 profitable
1x - 2x would have been the safest risk for this setup with no stoploss and just adding to position at each level. prob around 25% gains at current price.
from bottom price ran 55% to top.
opening a market long position on date of setup idea been published a total of 18% drawdown was experienced so 5x prob would have played out safely.
lower leverage adding to positions offloading on pullbacks rentering rinse repeat. I am beginning to understand this is a patience game.