I'm generally bearish on the market and this is a fallback in case VET rallies anyways. If it doesn't I'll trail my entry down again.
I've set the stop limit order for that trade according to the chart.
My hypothesis:
To have a higher probability it will only get triggered if two important resistances are broken:
1. The rectangle resistances from a sharp move down.
2. The major red ascending trend line from the higher lows of the triangle of the 1D time frame.
Target:
o I'll take profit before the upper end of the ascending channel or trail the target up step by step to the major descending trend line from the lower highs of the 1D time frame in red.
Stop-loss:
o Below the major red ascending trend line from the higher lows of the triangle of the 1D time frame.
o I'll trail the stop loss up if possible
Position size:
The full 20% of my portfolio which I planned for VET.
Disclaimer:
I'm a bloody beginner and I'm only publishing that to put some pressure on my to plan and review my trades correctly. This is why it is obviously not financial advice.
Your feedback is welcome!:
Please tell me your opinions as I'm looking forward to other views on my trade idea in the comments and please click thumbs up if you like id.
I've set the stop limit order for that trade according to the chart.
My hypothesis:
To have a higher probability it will only get triggered if two important resistances are broken:
1. The rectangle resistances from a sharp move down.
2. The major red ascending trend line from the higher lows of the triangle of the 1D time frame.
Target:
o I'll take profit before the upper end of the ascending channel or trail the target up step by step to the major descending trend line from the lower highs of the 1D time frame in red.
Stop-loss:
o Below the major red ascending trend line from the higher lows of the triangle of the 1D time frame.
o I'll trail the stop loss up if possible
Position size:
The full 20% of my portfolio which I planned for VET.
Disclaimer:
I'm a bloody beginner and I'm only publishing that to put some pressure on my to plan and review my trades correctly. This is why it is obviously not financial advice.
Your feedback is welcome!:
Please tell me your opinions as I'm looking forward to other views on my trade idea in the comments and please click thumbs up if you like id.
Comment:
I've set the entry higher above the red trend line than usual just in case I'll not have the time to raise the level from day to day along the trend line.
Comment:
1D time frame for the major trend lines
