Here I'm using a slightly different approach.
So I'm using a 1:3+ RR and not the usual 1:1, because this is kinda different setup and here I'm combining the breakout of the minor resistance zone, which is now a support zone + the breakout of Daily 50 EMA + the breakout of the internal descending trend line (DTL).
Now is retesting all of these 3 indicators with SL not so far below and TP is the Weekly 50 EMA + minor zone + touch of the bigger weekly DTL (I'll put screenshot of the Weekly chart).
!!!- I already have an open trade from 22.12 from around this level here and I'm using only 0.4 risk for this trade, because it's a bit different from my strategy, but I like how the setup looks and everything is adding up perfectly + it's a clean setup.
So I'm using a 1:3+ RR and not the usual 1:1, because this is kinda different setup and here I'm combining the breakout of the minor resistance zone, which is now a support zone + the breakout of Daily 50 EMA + the breakout of the internal descending trend line (DTL).
Now is retesting all of these 3 indicators with SL not so far below and TP is the Weekly 50 EMA + minor zone + touch of the bigger weekly DTL (I'll put screenshot of the Weekly chart).
!!!- I already have an open trade from 22.12 from around this level here and I'm using only 0.4 risk for this trade, because it's a bit different from my strategy, but I like how the setup looks and everything is adding up perfectly + it's a clean setup.
Trade active
Here is how weekly looks:Note
⏩I'm still in this trade, swap is positive so I don't mind holding it. Setup is still valid and nothing major suggest me that is reversing.
Trade closed manually
🤚🛑I have closed this trade at about 60% of my original SL and that's very small portion lost, because initially i have entered the trade with 0.4% risk. It took veeeeery long and price is just going back and forward..
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.