Search
Products
Community
Markets
News
Brokers
More
EN
Get started
Community
/
Ideas
/
Low risk setup for MRK
Merck & Company, Inc.
Long
Low risk setup for MRK
By jorens.zile
Follow
Follow
Updated
Jan 11, 2019
2
Cheer
Cheer
Jan 9, 2019
Why is this setup good?
Strong contextual uptrend
Price continues moving in the direction of main trend since it bounced at support EMA(100) and EMA(50)
Momentum building on MACD 12-26, MACD signal line crossed the 0 line
First reaction (contraction) since MACD crossover
Trigger Candle testing EMA 3, 6 and 18
Low Setup Risk - just 1.29% in risk
Entry rules:
Buy Stop order or Manual Buy at 79.58 at the next interval(candle) open
Cancel the order at the end of the day if 79.58 does not get triggered
Stop Loss (S/L) level at 75.26 (adjust position size accordingly, don't risk more than 3% for your current account balance)
Trade management
-Move S/L to break-even when price CLOSES above 76.70
Exit rules:
-Target 79.58 (Risk-Revard ratio ~3.41)
Jan 10, 2019
Comment
- Buy Stop order executed at 79.58
- Interval bar closed close to S/L. Either it will reverse or hit the S/L. Let's see.
Jan 11, 2019
Trade closed: stop reached
buy
Daily Charts
LONG
lowrisk
Moving Averages
MRK
Support and Resistance
uptrend
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
.