My trading strategy is based on Direction Confirmation and Trade Set Up. The direction is up, and the trade set up is based on entering the long position as the the PA bottoms out. You could take an earlier long position, however, you should consider the risk to the downside till 2019 and the long target is 2060 for this trade set up.
Comment:
The trade set up is based on VSA, Volume Spread Analysis, which states that for any substantial move in the price to any direction must supported by a market shake out such as short or long covering aggressively for the purpose of liquidity grab. This is the Newton's Law in the Financial Market. For every action there is a rection. Hence, for the PA to move higher, there must be a liquidity grab, either you are part of it, or you are watching it happen. The best entry level is once the shake out is confirmed, according to Wyckoff.
Comment:
My Strategy and trade set up, will allow you to take a methodical step by step approach to enterng a trade. Such as entering on an incremental basis towards the direction of the arrow. In this case the position building, or Dollar Cost Averaging will take place against the arrow direction considering the last open position on 2019 in this case, and leaving plenty of room for stop loss or hedging below 2019.
Comment:
We will keep posting on the update where the entry levels are confirmed, and how to manage the risk to the down side, and when to stop the trade in case of void.