I tried to show you how I would approach a trade.
I only entry a trade based on the 4 hour / daily chart and I try and trade the bigger weekly moves.
Targets? The answer is simple; Fibonacci. A good (trend-based) Fibonacci is all you are ever going to need.
So how to approach this trade. Sell between 14494 / 19494. Wait for the correction and buy between 11494 / 8449 to sell again between 23494 / 27494.
I drew out my expectations in the blue dashed cup and handle.
And either way, I didn't buy the top and are in a good position to get a nice return when we hit the first target.
I always choose the more modest side of a target so in this case the first target is 14494.
I only entry a trade based on the 4 hour / daily chart and I try and trade the bigger weekly moves.
Targets? The answer is simple; Fibonacci. A good (trend-based) Fibonacci is all you are ever going to need.
So how to approach this trade. Sell between 14494 / 19494. Wait for the correction and buy between 11494 / 8449 to sell again between 23494 / 27494.
I drew out my expectations in the blue dashed cup and handle.
And either way, I didn't buy the top and are in a good position to get a nice return when we hit the first target.
I always choose the more modest side of a target so in this case the first target is 14494.
Comment:
another clear example
