Reasons for the trade:
1) Location: In the 'sweet spot' of the RLZ
2) Indicator confirmation:
a) MACD Divergence
b) Willy crossed from an embedded state
3) Structure : Shooting star formation, watching for additional structure.
Lower risk to the top of previous high, for a 4:1 RR or better.
A risk to the top of the RLZ is also reasonable for a potential 2.5 or RR
I welcome any feedback
1) Location: In the 'sweet spot' of the RLZ
2) Indicator confirmation:
a) MACD Divergence
b) Willy crossed from an embedded state
3) Structure : Shooting star formation, watching for additional structure.
Lower risk to the top of previous high, for a 4:1 RR or better.
A risk to the top of the RLZ is also reasonable for a potential 2.5 or RR
I welcome any feedback
Note
At lest partial profit to be taken at 38.2 & 50% Levels
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.
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.