Adobe Long postion
Hypothesis: On the Monthly Timeframe, $445-$420 is a strong area of demand with multiple buys out of this zone since 2020.
Action: Set buy limit orders into this zone, with a stop limit at $414.5. Sell Limit is $560. I will likely sell some positions here and set a trailing stop limit if momentum is good towards the upside.
Action: Set buy limit orders into this zone, with a stop limit at $414.5. Sell Limit is $560. I will likely sell some positions here and set a trailing stop limit if momentum is good towards the upside.
Trade active
I added positions into the demand zone. I also adjusted my stop limit and demand zone to incorporate the .618 FIB retracement level, which lowered my stop limit.
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