FIL trend following set up
Price in longer term downtrending channel, hit lower trend line and has begun to reverse. Currently respecting a short term up trend line, price wicking on 1h chart. Price hit trend line and closed with a high volume bullish hammer with long wick showing professional buyers coming into the market at this level.
Stop loss: Below wick of previous 15 min close / outside trend line
Take profit: At previous high of move / resistance
Stop loss: Below wick of previous 15 min close / outside trend line
Take profit: At previous high of move / resistance
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