Why is this setup good?
-Contextual uptrend
-Momentum building on MACD 12-26
-First reaction (contraction) since MACD crossover
-Trigger Candle testing EMA 3, 50 and 100
-Low Setup Risk - just 1.62% in risk
Entry rules:
-Buy Stop order or Manual Buy at 43.14 at the next interval(candle) open
-Cancel the order at the end of the day if 43.14 does not get triggered
-Stop Loss (S/L) level at 42.48 (adjust position size accordingly, don't risk more than 3% for your current account balance)
Trade management
-Move S/L to break-even when price CLOSES above 43.23
Exit rules:
-Target 46.40 (Risk-Revard ratio ~4.66)
-Contextual uptrend
-Momentum building on MACD 12-26
-First reaction (contraction) since MACD crossover
-Trigger Candle testing EMA 3, 50 and 100
-Low Setup Risk - just 1.62% in risk
Entry rules:
-Buy Stop order or Manual Buy at 43.14 at the next interval(candle) open
-Cancel the order at the end of the day if 43.14 does not get triggered
-Stop Loss (S/L) level at 42.48 (adjust position size accordingly, don't risk more than 3% for your current account balance)
Trade management
-Move S/L to break-even when price CLOSES above 43.23
Exit rules:
-Target 46.40 (Risk-Revard ratio ~4.66)
Trade active:
Move S/L to break even.
Trade active:
Optionaly you can move S/L to 45.70, however, price action is still bullish.
Trade active:
Move S/L to 46.20.
Trade active:
Move S/L to 46.83
Trade active:
If 47.90 level breaks, we can expect that price will go higher. However we must be aware of false breakout (crossback).
Trade closed: stop reached:
S/L at 46.83 hit.