NAZDUSD with an entry trigger (wait for closure though)
Stocks are on fire today. I'm sure you won't have trouble finding good setups stockswise.
Meantime, had been tracking this baby for the past week. Noticing a sweet consolidation with low volatily and an entry trigger, as per my rules, just popped up.
1. Pair in a confirmed uptrend - trading above 50 MA and just consolidating after a 61 day rally.
2. Pair traind close to 50 MA - our value zone.
3. Strong bullish candle erupting from this 43 day consolidation as defined by the two blue trendlines forming a triangle-pennant pattern.
Trade
1. Entry: next candle - and advise to wait for candle completion for good order's sake.
2. SL: 1 ATR below 50 MA
3. TP: Closure below 1 ATR trail line
4. Position Size: 1pct ttl equity at risk only
Cheers,
RR
Meantime, had been tracking this baby for the past week. Noticing a sweet consolidation with low volatily and an entry trigger, as per my rules, just popped up.
1. Pair in a confirmed uptrend - trading above 50 MA and just consolidating after a 61 day rally.
2. Pair traind close to 50 MA - our value zone.
3. Strong bullish candle erupting from this 43 day consolidation as defined by the two blue trendlines forming a triangle-pennant pattern.
Trade
1. Entry: next candle - and advise to wait for candle completion for good order's sake.
2. SL: 1 ATR below 50 MA
3. TP: Closure below 1 ATR trail line
4. Position Size: 1pct ttl equity at risk only
Cheers,
RR