SQ Long after trend line break by breakaway Gap
Condition:
1. Downtrend line was broken by breakaway Gap (G1). Start a new trend.
2. 10/20/2017 Weekly demand zone confirmed
3. G2: runaway Gap shows 40-50% of the trend.
4. Fib 0.618 retracement,
5. trend line break by breakaway Gap (G3).
Entry at Gap up open 47
Stop: 45
Target1: 55; risk/reward=1:4
Target2: 61; risk/reward=1:7
Target3: 77. This supply zone matches the 100% of a trend, where G2 is 40% of a trend.
This is a trading school homework. I need 6 months to practice trading plan.
If you like it, thank you for your support. Please use SIM/Demo account to try it, until my trading plans get high winning rate.
In my real trade, I bought Sep C65, limit 2.3;
Stop: 45
1. Downtrend line was broken by breakaway Gap (G1). Start a new trend.
2. 10/20/2017 Weekly demand zone confirmed
3. G2: runaway Gap shows 40-50% of the trend.
4. Fib 0.618 retracement,
5. trend line break by breakaway Gap (G3).
Entry at Gap up open 47
Stop: 45
Target1: 55; risk/reward=1:4
Target2: 61; risk/reward=1:7
Target3: 77. This supply zone matches the 100% of a trend, where G2 is 40% of a trend.
This is a trading school homework. I need 6 months to practice trading plan.
If you like it, thank you for your support. Please use SIM/Demo account to try it, until my trading plans get high winning rate.
In my real trade, I bought Sep C65, limit 2.3;
Stop: 45
Trade active:
In my real trade, I bought Sep C65, limit 2.3;
Stop: 45
Stop: 45
Trade closed manually:
Sold C70 Limit 2.1.
Overall, cost $0.2 hold a $5 range (C65/70).
This is a winner.
Overall, cost $0.2 hold a $5 range (C65/70).
This is a winner.
Trade closed: target reached:
T3 reached. Which shows how the runaway Gap worked perfect.