See an opportunity to join the recently initiated uptrend

looks like it's starting an uptrend after a long downtrend. This trade is a little risky in an attempt to join the trend. Make your risk lower than usual due to the risk of a sideways trend instead. My first target is on the 3:1 mark and then I'll start a mechanical trailing stop, following the possible uptrend until it is finished.

Trade active

First target 3:1 was already reached. Now I started my mechanical trailing stop.

Note

Moved stop loss to 1.59 mark.

Note

Correction above: 1.059 mark.
Now moved stop loss to 1.06040 mark.

Note

Moved stop loss to 1.06310 mark. If I got stopped there this will be a 7.43:1 trade. Very good risk/reward ratio.

Trade closed: target reached

Trade closed for a 7:1+ trade.

mdougllas

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.

mdougllas