Been following this pare for the past few days, it's due a breakout. When i enter on the second take profit, I'd move my stop loss on the first trade to the stop loss on my second entry. Thus making the trade a risk free. however, this is an over a weekend trade so, the markets might open and retest the Top Black Resistance level. Then, the trade would play out...
When price breaks the black line I will be looking for longs. I would've got on when price hit the first blue line on the bottom half of the screen. However, price is retesting at the moment so, when price breaks the black line...
LONG LONG LONG
Ok bare with me - first chart!
Slight dip over the past few days but towards the end of last week the trend has been gaining momentum - should be back to early last week prices within next couple of days?
The price of have finally broke above daily resistance line and seem to be turning resistance into support. I'll be entering a long with a view to hold this trade for while. Stop loss is set below the red line.
You have to be careful and analyze the price action before making the decision. We must think that nobody knows what will happen. I'm just trying to put the odds in my favor. Then the price will do what it has to do. So let's see what happens.