Looking for this Bat to end in profit. Small risk, big reward. About a 12:1. Buying at 61.37 with a 42 pip SL. Still in an uptrend overall and the market bounced off that uptrend line last week, so it's going to continue going up IMO.
If it doesn't pullback to my pending order, then I'll have to find another position to enter. Looking to complete at that resistance at the top of the profit anticipation. I might even take profit at 66.00. Used fib tool and will move SL to breakeven once the market hits the 38.2% zone, making it a risk-free trade. Will then will move SL to 38.2% zone once it hits the 62% zone, making it a profit trade.
If it doesn't pullback to my pending order, then I'll have to find another position to enter. Looking to complete at that resistance at the top of the profit anticipation. I might even take profit at 66.00. Used fib tool and will move SL to breakeven once the market hits the 38.2% zone, making it a risk-free trade. Will then will move SL to 38.2% zone once it hits the 62% zone, making it a profit trade.