Flat-trading strategy
Updated
It is a good time to try flat-trading strategy. Price bounced from Support Line and at the same time from Bollinger Bands. RSI and MACD confirms reversal. The other thing we should take into consideration - DMI indicator, where ADX should be below level 20. We meet all conditions for opening Long position with Targets - MA 20 and Bollinger Band.
Trade closed: target reached
Profit Level 1 was reached, after that we could place our stop order higher then Entry Level. As for Profit Level 2 - it's long term target and we have to follow the market conditions and if price reverses from middle line of Bollinger Bands, it's better to close the rest part of the trade.
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.