Enter long at 1457 at the support line of the bullish trend channel with stop-loss at 1427 and take profit at 1540 which offers a 2.8 R/R ratio. The S/T rising trendline coincides with the 0.50 fibo resistance level of the last wave and close to the 0.382 fibo level of the upleg from the major low at 1385.8. .
Comments
Laz
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...and yes, the more conservative stop level below the interim low @1419.8 would have been the better choice.
Laz
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The 0.618 fibo level of the upmove from the 1385.8 low. You could use a wider stop (below the interim low) but IMHO if the price gets to that level you'll be better off looking for a second entry because the market is likely to test the 1400 again.
vlad.adrian
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What is the reasoning for placing the stop at that level?