BULL: -Very strong upside move on a lower TF. Pullback expected to be brief. -Higher lows forming -On a higher TF it is still a bull trend, so probably better slightly more probability, that bigger trend is resuming? -Healthy RSI BEAR: - Even though it is a bull trend and broad bull channel, there is a strong resistance from the previous fair value channel lower line. -Previous fair value channel lower boundary coincides with present bull channel upper line to form strong resistance.
ERRORS:
Stop/loss too tight, should beat least at the level of the last HL. Target is quite steep. Not unrealistic, but the position should be managed on the go.
Comment
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Closed the trade at around 14.8 as strong resistance. RR 1:1. Will reevaluate if resistance will be broken.