UBER long Trade gone wrong but Stop trigger saved me
The Setup
UBER long-term(M) is in month (M) uptrend. Price made a Higher High (HH) recently. Current chart (W) is correcting into a Demand Zone (DZ) this zone is also the Higher Low of the Weekly (W) uptrend.
ODD (Trade) Enhancers
The more odd enhancers the more the odds are in my favour. I hate calling them odds as if they bubble up to the surface randomly. They have their reasons that are beyond my technical trading style, in the end those are trade enhancers yielding more confidence to a trade.
The trade
The Long (LNG) trade was open in the DZ, the price hovered in the DZ, closing below the DZ. Trigger stop initiated.
UBER long-term(M) is in month (M) uptrend. Price made a Higher High (HH) recently. Current chart (W) is correcting into a Demand Zone (DZ) this zone is also the Higher Low of the Weekly (W) uptrend.
ODD (Trade) Enhancers
The more odd enhancers the more the odds are in my favour. I hate calling them odds as if they bubble up to the surface randomly. They have their reasons that are beyond my technical trading style, in the end those are trade enhancers yielding more confidence to a trade.
- The long-term (M) is in long standing uptrend
- The Current chart (W) on the left is correcting into a fresh DZ
- Using the trade chart (D) to time my enter & my STOP loss
- room for the profit to run, if trade goes my way
The trade
The Long (LNG) trade was open in the DZ, the price hovered in the DZ, closing below the DZ. Trigger stop initiated.
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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.
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.