Catching long trade in uptrend with 2 options
Updated
4H charts shown us interesting zone 200. And we got two options how to chatch long trade.
Number 1: Close 4H candle ABOVE 205 , then we enter long with SL at 194.
Number 2: Price will go back bellow 200 and we enter trade at 195.1 ON TRENDLINE. FIBO 38.2 shows us support arround 188 so stop loss will be 187. Those conditions must maintain then the trend will continue in our long :D
I think that Number 2 is more probable consider that longs and shorts possitionsis beginning to decline.
Number 1: Close 4H candle ABOVE 205 , then we enter long with SL at 194.
Number 2: Price will go back bellow 200 and we enter trade at 195.1 ON TRENDLINE. FIBO 38.2 shows us support arround 188 so stop loss will be 187. Those conditions must maintain then the trend will continue in our long :D
I think that Number 2 is more probable consider that longs and shorts possitionsis beginning to decline.
Trade active
Limit buy was filled at price 195.1 .Next step is TAKE PROFIT AT 204.8 because 205 is resistance. Or more risky approach is set STOP LOSS at BREAK EVEN 195.1 and hold possition for longer term.
Back to Number 1 option, because is still in the game :D. If we break price 205 and close ABOVE 1H candle then i will be open another long position with stop loss below 200 exactly 194.
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