Downtrend noted on daily. Entry order placed on 50% retrace of full weekly candle, the 50% is an attempt to maximise the risk/reward ratio. If it doesn't get filled, no bother. Stop at high of weekly candle. Target at support suggested by weekly line chart.
Commentary by my son.
Trade active
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Clarification . - Target will be a few points above the obvious support. - My requirements for a trade normally require me to place an order in advance as I don't have time to monitor the market, especially at market close. - Current (general) preferred entry ticker conditions and entry signals are a) Reversion to mean from overextension, providing there has been evident support from historical price action and/or a bullish/bearish pintail or rejection evident by an engulfing candle immediately after the supposed support/rejection. b) Oscillators (Daily/Weekly Stoch as well as the Average Sentiment Oscillator) all providing confluence with a trend line/support level.
Thanks and congratulations on sharing your first chart with the community. We hope it was a fun experience. If you need any help, feel free to reach out. ✌🏽from mod @Nico.Muselle, TradingView moderator
✌🏽from mod @Nico.Muselle, TradingView moderator