Action to Take: Go Long, enter buy at market above Pivot and Opening Range high
Take Profit Level: TP1 79131, TP2 79383 Stop Loss Level: 78837
Timeframe: ~ 24 hours
Total Risk of Account Equity: 2% or less
Trade closed: stop reached:
A good idea is to use a trailing stop loss to mitigate losses in a reversal move like this one, in hopes to keep some of the 21 pips profit.
Keep in mind the very good risk reward ratio that we see in these trade setups. The risk was 5.3 pips with the move in the market of 21 pips before reversing through the stop level.