We are looking at potential $9,000 - $9,500 as our target if we see convincing break above $7,800. If we do not see breakout and resistance remains we will be looking at quick SHORT target of around $6,500 which is still on the table.
Current position is still LONG since $6,900 with visual stop loss around $7,290
If you went long at 6900 and the price is currently 7594 then you're up 10% so congrats all around.
But you said your stop is 7290 which would be a 4% stop ($300 drop) from the current price. Your 10% profit could turn into 6% if the stop is hit. Isn't that a pretty large stop? Are you that confident 9300 is doable?
futureoutfit
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@BDG, doesn't matter what your stop is. Position size will be calculated accordingly. Put your stop where the trade would become invalidated.
But you said your stop is 7290 which would be a 4% stop ($300 drop) from the current price. Your 10% profit could turn into 6% if the stop is hit. Isn't that a pretty large stop? Are you that confident 9300 is doable?