Breakout on the 1st of July
Confirmation on the 10th of July
Now we're retesting the 160 levels which are the last line of defense.
Still some potential for reversal since it's not uncommon that the "last Bear" level is retested after a breakout before rallying...
M1 50 SMA and W1 200 SMA also here as a support
Monthly and weekly still under bull control
Wait and see...
Confirmation on the 10th of July
Now we're retesting the 160 levels which are the last line of defense.
Still some potential for reversal since it's not uncommon that the "last Bear" level is retested after a breakout before rallying...
M1 50 SMA and W1 200 SMA also here as a support
Monthly and weekly still under bull control
Wait and see...
Trade closed: stop reached
To exit trades I usually do the following.
1 candle body below the "Last Bear" line
Then close below of that candle
If the close of that candle is below the Bollinger wait for another close below the Bollinger
If not, wait for two more close below the Bollinger
My stop loss is few cents below the low of that last candle.
Here the set up is complete so we can put a stop loss few cents below yesterday's low.
Yesteday's range is 10 bucks, so 5 bucks below yesterday's low would be my stop loss (140 Kr)