Current in downtrend channel Possible Reverse H&S. WR > -80 OBV> OBV34
Entry 5.4 Stop 4.5 Target 15
Risk management is much more important than a good entry point. The max Risk of each plan should be less than 1% of an account. I am not a PRO trader. I trade option to test my trading plan with small cost.
I created some tradingview scripts to improve my trading entries: OBV and OBV SMA comparison; Williams %R two lines;
Trade active
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Buy Nov C7.5/15 Limit 0.75x4 No stop in option ( 0.75 is same as stock stop) Max RRR 9:1
Seems like it needs to break the down treadline before entry?
PlanTradePlanMM
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@cpuk2017, Yes. better wait for trendline break. My feeling is There might be a big Gap up (see the left history, how breakout point worked). that is why I would not wait for the trendline break.