SQ followed 102 Day Bearish trend, which was reversed 35 days ago with bullish divergences and increasing bullish volume. Since then, the trend is following a parallel channel. A trendline break out of this bullish run was confirmed 19 days ago. Trade Plan with 2 Entry Points
Risky Entry
- Entry @ 66.60
- TP @ 71.78
- SL @ 63.27
- Risk = 0.5%
- RRR = 1.56
Optimal Entry
- Entry @ 65.18
- TP @ 71.78
- SL @ 63.27
- Risk = 0.5%
- RRR = 3.59
Since the stock is favored fundamentally, taking partials at the TP level is advisable, and letting the trade run with training SL using ATR with the multiple of 1.5.
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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.