RSI bottomed out and market shows strength to the upside. Market broke above the previous swings and took a position on the long side with stop at 270.
Trade active:
Updating stop to 280
Trade active:
Overall the setup looks good. At the moment ATR is 7 which means this market requires a 14 point stop. Want to give some room for the price to play out so will purchase more if market allows at 280 and pushing the stop back to 270.
Trade closed: target reached:
Booked profit at 295
a236z