On 1h , AB=CD pattern has been drawn. Since there is no RSI divergence as well, therefore, Bullish Trend is likely to continue till reaching Potential Reversal Zone. Be watchful there for any reversal.
My trade values are depicted on chart. Keeping Risk/Reward ratio to 1 and 2 respectively for two trades.
My trade values are depicted on chart. Keeping Risk/Reward ratio to 1 and 2 respectively for two trades.
Note
TP1 reached. Therefore, first trade has been closed at profit.Now moving up my second trade's Stop Loss to my Entry price so that if the trend reverses prior to reaching TP2, overall I still end up in profit against these two trades.
Note
TP2 adjusted and trade closed at 200.60. Almost 3 times gain achieved.Trade closed: target reached
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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.