Self-explanatory. Bullish market structure, bullish market flow/price action, risk 500 pips but potentially make 2500. 1:5 risk to reward ratio. Not bad especially for being US30. Of course, take partial profits every take profit and move stop loss as well. Risk management is key, especially when it comes to the market giants.
Comment:
Update #2: drawdown spoken in the first update was just a false breakout of the zone. As can be seen on M1-M30 even H1 TF, the zone is been touched and respected multiple times. Market flow and structure is lookin bullish, so a buy is very likely.
Trade closed: stop reached:
Update: stop loss hit, and making some real movement on the zone by where the SL is at. Might even get transition to back to bullish
Comment:
Update: as a trader, we need to learn how to capitalize on trades that hit our stop loss. We are meant to put our stops in areas where if reached, a reversal can occur or a break and retest of said area. The zone where my SL was hit is making movement, even bullish movement. To capitalize we need to see price ceilings being broken and new floors being created. I am set on a buy after I see confirmation. If price breaks the zone, I will wait for a break, retest and follow thru to a support or demand area.