Description
⋅ Today we have a long setup to share. Here you will see a full explanation of how we will proceed.
Main items we can see on the chart:
a) The price is bouncing from a Daily Support zone (that allow us to look for long setups)
b) On the 30 minutes chart, we can see a Broken descending trendline
c) Currently, we have an ABC pattern (Flag structure). From a technical perspective, this type of formation is considered a bullish one
d) Based on that, we will open positions, set a stop, and take profit on the levels you can see on the chart
e) Our Break Even level is the yellow line
f) The Risk-Reward Ratio we have on this setup is 1.5
g) We will take this trade using a 1% risk of our Capital
h) Remember: Trade safe, protect your capital, and always understand what you are doing.