Market: strong up trend (short term)
Sector: stage 2
Stock: above rising 30W/D/H EMA, stock about to break the consolidation range. No overhead resistance ( near all time high)
If we buy at weekly and daily chart, the stop loss would be too large. So we zoom to 1 hour chart and buy if the price break last friday's high, and stop loss would be under 20EMA.
If the price pull back to the around $47 which will be the previous downward trend line support and also the 20 day EMA support. It should be a high probability trade.
Can scale to 1 hour time frame to spot a short term trend line break.