Daily chart breakout on very good volume.
Volume Profile shows little volume traded above the breakout area. That would suggest that if this decides to continue upwards the moves should be rather swift and volatile.
Target is set 3156 based on daily chart resistance areas. At this point I plan to sell half my position and move up my stops as the trade continues to work in my favor.
Stop loss is set 2690 based on lower timeframe (15min) structure. I feel like if it would pull back further then that point it would raise red flags.
Volume Profile shows little volume traded above the breakout area. That would suggest that if this decides to continue upwards the moves should be rather swift and volatile.
Target is set 3156 based on daily chart resistance areas. At this point I plan to sell half my position and move up my stops as the trade continues to work in my favor.
Stop loss is set 2690 based on lower timeframe (15min) structure. I feel like if it would pull back further then that point it would raise red flags.
Trade closed: stop reached:
Stop triggered O/N. Might look for a new entry if we get some consolidation above support