As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=109.25. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=109.65. TP4: R2=109.8. Set the stoploss of these orders at breakout of S2=109.1.
Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of S2=109.1. In this situation, there is an expectation to reach the target S3=108.5. Set the stoploss of reverse orders at breakout of S1=109.25.
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