Asset and Time frame - IQ, Daily & 4H
Entry Price -19.27
Exit(Stop Loss) -18.80
Exit(Take Profit) -21.90
The range between SL and entry -0.47$
Technical Analysis -Daily chart made a bullish engulfing candle, price reacted to the 61.8 Daily Fibonacci, on the 4H chart price reacted to the -61.8 Fibonacci level and about to react to it again, the price couldn't break the corrective trend line,I placed a Limit order at the price of 19.27 in order to get the maximum from this trade,RSI on 4H and Daily did not reach below 40 level.
Why not enter the trade -The price already reacted to the -61.8 level.
What direction does the market move -Bullish
What can be improved -
Conclusion & End of Trade -
Entry Price -19.27
Exit(Stop Loss) -18.80
Exit(Take Profit) -21.90
The range between SL and entry -0.47$
Technical Analysis -Daily chart made a bullish engulfing candle, price reacted to the 61.8 Daily Fibonacci, on the 4H chart price reacted to the -61.8 Fibonacci level and about to react to it again, the price couldn't break the corrective trend line,I placed a Limit order at the price of 19.27 in order to get the maximum from this trade,RSI on 4H and Daily did not reach below 40 level.
Why not enter the trade -The price already reacted to the -61.8 level.
What direction does the market move -Bullish
What can be improved -
Conclusion & End of Trade -
Trade closed: stop reached