Context:
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Expected R (at full) 3.64
- Weekly - Resistance Zone @116.71/134.68
- Daily - Trend line breaks @ 2 points; Retracement back to "First Red"
- 1h - CHOCH structure with "Last Bar" as entry/stop range (2x ATR (near term) rounded as stop buffer)
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- Main Target - Weekly Support Zone @ 87.58
- Breakeven stop @ 97.85
- 2/3s Out @ 97.85 (Fib ext 0..618)
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Expected R (at full) 3.64
Trade closed: stop reached
Stopped out.---
Better?
I either discounted or didn't consider the breath of the move after the daily structure was created. These large swings are valid, but do carry more risk as the retracement is must move further into the preceding move.
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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.