AppCoins (APPC) - Breakout!

HUOBI:APPCBTC   AppCoins / Bitcoin
As anticipated a couple days ago, we had a daily close and a new 65-day high. An intraday (6h) time frame showed a clear bounce of support. Entry was executed as per the chart indicator at 461. Even though I am showing two targets, I like to hold these trend-following trades for longer or until the evolving risk:reward doesn't make much sense. As you can see, since breakout trades usually have a smaller success rate, the risk-reward ratio is pretty high.

By keeping our risk fixed with a stop-loss yet letting our winning trades run its course, we increase the likelihood of a successful strategy in the long run.
Oct 14
Comment: Stopped out.

I seem to have misinterpret the critical breakout level and eventual S/R level being flipped. It seems to be around the price where I originally placed the stop. I could have also used a much wider stop given how good the risk-reward ratio is on this one.

Lesson learned.

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