I. Analysis 1. Strong in an uptrend as defined by the series of hh/hl + price trading above 20MA - looking for long opportunities 2. 20MA tested trice as support and held - value zone identified 3. Significant bullish pinbar formed upon third test of 20MA - entry trigger
To sum up, we are trading in the direction of the trend - after all the trend is our friend. We are trading from a vale zone as identified by the 20MA - this zone allows us to set an obvious stop loss + expanding the potential profits to be taken increasing the r/r ratio. Finally, we have a clear entry trigger as well in the form of a bullish pinbar.
II.Trade
1. Enter next candle 2. SL 1 ATR below 20MA // traing 20MA for trend following 3. TP next sing high for traders with more pain aversion // TP once price crosses and holds below 20MA for trend followers (trace SL)