Idea: Simple long trade on breach of sliding parallel!
We have two downward sloping median lines where price has met support and then cleared out the previous high. I am using a special "mini" median line based on the closing price and a 5 day moving average for the entry. My logical target is the apposing white dashed median line.
Please Note: if my entry is not triggered in this hour I will slide my entry point down along the sliding parallel until either my entry is triggered or if it drops down past my stop loss ( before entry activation ) I will cancel trade and re-evaluate.
Sincerely,
TIK
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Timing_is_key
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Target reached! This was a counter trend trade as I expect more downside for the GU
Sincerely,
TIK