Breakout - Long

We have a breakout to the upside and are avove the 50 ema.

Targets based on structure. RR is about 1:1.2 for target 1. Target 2 has no take profit until I see a red candle close on the 3 hour chart. Stop Loss will be moved to a little better than break even on the second position once target 1 on first position is met.

Trade active

Comment:

Interesting observation, on the 15m chart.. we have a supply zone that most of the time that price touches during this consolidation period we are getting price shot up fairly quickly.

Could this be a possible indicator that price will shoot up - meaning - we look for these kind of quick spike reactions during consolidation to predict whether price will break up or down.

Comment:

Trade closed: target reached:

Target 1 Reached on Position 1!

Stops have moved to a little better than break even on target 2. I am waiting for a red close on the three hour chart to close Position 2.