FCPO 17 August 2021
Updated
Yesterday's price was still in the range. Testing support multiple times.
1.Today price open break yesterday resistance.
2.All EMA uptrend
3.Stoch oversold
However, the Stop loss is too large to take.
Wait for another setup with a good risk and reward ratio.
1.Today price open break yesterday resistance.
2.All EMA uptrend
3.Stoch oversold
However, the Stop loss is too large to take.
Wait for another setup with a good risk and reward ratio.
Note
1. The market build-up at the resistance area indicates the price is doing a valid breakout.2. Price rejects EMA50 indicates a strong uptrend. Entry position.
3. SL 1xATR from recent support.
Managing trade.
1. Once price hit resistance, set BE
Note
Price respecting the range. Buy low sell high..Note
Breakout support.. 1. Fake breakout if 15min CS close inside range and vice versa
Note
Valid breakout because 2nd candle after breakout closes below support. Looking for sell entry.
Note
TP fibo extension 1.618 (4369)Next Gann line is 4357
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