1)Trend defined. Weekly- Daily Uptrend.
2)Contradictory entry. At the lower extreme of an 1h consolidation area that is a 4h-1d key level as well.
3)Default loss. A bit lower that the swing low.
4)Default target levels. 1.72, 2.95, 4.86.
5)Risk <= 3%
6)Singular trade.
7)Trades placed today <= 5.
2)Contradictory entry. At the lower extreme of an 1h consolidation area that is a 4h-1d key level as well.
3)Default loss. A bit lower that the swing low.
4)Default target levels. 1.72, 2.95, 4.86.
5)Risk <= 3%
6)Singular trade.
7)Trades placed today <= 5.
Trade closed: stop reached
A less complicate analysis could provide with a 2 r/r already and the perspective for more.Note
This could have been achieved with a limit order at the point of the 26EMA instead of a market entry on the long side, that was done based on a more detailed approach.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.