Timeframe: Daily
Why is this setup good?
Entry rules:
-Buy Stop order or Manual Buy at 43.53 at the next interval(candle) open
-Cancel the order at the end of the day if 43.53 does not get triggered
- Stop Loss (S/L) level at 42.61 (adjust position size accordingly, don't risk more than 3% for your current account balance)
Trade management
-Move S/L to break-even when price CLOSES above 43.73
Exit rules:
-Target 46.41 (Risk-Revard ratio ~3.11)
Why is this setup good?
- Contextual uptrend
- Price continuing moving in the direction of main trend since it bounced close to major support EMA(200)
- Momentum building on MACD 12-26 and MACD crossover
- First reaction (contraction) since MACD crossover
- Trigger Candle testing EMA 3, 6 and 18
- Low Setup Risk - just 2.11% in risk
Entry rules:
-Buy Stop order or Manual Buy at 43.53 at the next interval(candle) open
-Cancel the order at the end of the day if 43.53 does not get triggered
- Stop Loss (S/L) level at 42.61 (adjust position size accordingly, don't risk more than 3% for your current account balance)
Trade management
-Move S/L to break-even when price CLOSES above 43.73
Exit rules:
-Target 46.41 (Risk-Revard ratio ~3.11)
Ordre annulé