we have seen a sign of price increase i.e. the price is making higher high (HH). If the price wants to continue rising, the price will not fall lower than the lower low (LL). If the price drops lower than the lower low, we will stop loss. The TP target is based on a larger TF. I use EMA50 TF Daily as a target. However, I did not place the TP target exactly at the EMA50 TF daily, I placed a lower target so that the TP target is reached faster.
Comment:
price break down the trendline..but no worry as long price not go lower than LL
Trade closed: stop reached:
hit SL..never mind..just find another setup