Long
AppCoins (APPC) - Breakout!
As anticipated a couple days ago, we had a daily close and a new 65-day high. An intraday (6h) time frame showed a clear bounce of support. Entry was executed as per the chart indicator at 461. Even though I am showing two targets, I like to hold these trend-following trades for longer or until the evolving risk:reward doesn't make much sense. As you can see, since breakout trades usually have a smaller success rate, the risk-reward ratio is pretty high.
By keeping our risk fixed with a stop-loss yet letting our winning trades run its course, we increase the likelihood of a successful strategy in the long run.
By keeping our risk fixed with a stop-loss yet letting our winning trades run its course, we increase the likelihood of a successful strategy in the long run.
Note
Stopped out. I seem to have misinterpret the critical breakout level and eventual S/R level being flipped. It seems to be around the price where I originally placed the stop. I could have also used a much wider stop given how good the risk-reward ratio is on this one.
Lesson learned.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.