Setup:
It was noted that GILD could be dropping to 73.878
Our setup is complemented by the following:
1. Multiple timeframe analysis
2. Divergence
Approach:
Our trade strategy is as follow: We will open two consecutive trades, they will both have the same stop loss but different take profits.
Trade 1:
Entry: 71.94
SL: 74.35
TP: 62.39
Entry: 71.94
SL: 74.35
TP: 57.46
It should be noted that once TP1 is hit, we will move the stop loss of trade 2 to breakeven.
Risk & Reward:
Total Risk:
2%
Total Reward:
10.2%
Good Luck :-)
It was noted that GILD could be dropping to 73.878
Our setup is complemented by the following:
1. Multiple timeframe analysis
2. Divergence
Approach:
Our trade strategy is as follow: We will open two consecutive trades, they will both have the same stop loss but different take profits.
Trade 1:
Entry: 71.94
SL: 74.35
TP: 62.39
Entry: 71.94
SL: 74.35
TP: 57.46
It should be noted that once TP1 is hit, we will move the stop loss of trade 2 to breakeven.
Risk & Reward:
Total Risk:
2%
Total Reward:
10.2%
Good Luck :-)