Condition:
1. Downtrend line was broken by breakaway Gap (G1). Start a new uptrend.
2. 1/4/2019 weekly demand zone confirmed
3. 0.382 retracement,
4. Demand Zone (DZ),
5. SMA50 is support
6. price Gap up above SMA8 95.2
Makert buy at open 95.31: (or limit buy below 96 in first hour)
Stop 93
Target1: 110; risk/reward=1:4 (ABC pattern size of BC=XA)
Target2: 115; risk/reward=1:6
This is a trading school homework. I need 6 months to practice trading plan.
If you like it, thank you for your support. Please use SIM/Demo account to try it, until my trading plans get high winning rate.
1. Downtrend line was broken by breakaway Gap (G1). Start a new uptrend.
2. 1/4/2019 weekly demand zone confirmed
3. 0.382 retracement,
4. Demand Zone (DZ),
5. SMA50 is support
6. price Gap up above SMA8 95.2
Makert buy at open 95.31: (or limit buy below 96 in first hour)
Stop 93
Target1: 110; risk/reward=1:4 (ABC pattern size of BC=XA)
Target2: 115; risk/reward=1:6
This is a trading school homework. I need 6 months to practice trading plan.
If you like it, thank you for your support. Please use SIM/Demo account to try it, until my trading plans get high winning rate.
Trade active
In my real trade, I use options. I bought Jun C105, limit 4.6; stop when price below 92.
Trade closed manually
Sold Jun C110 limit 3.6. Use 1.00 hold C105/110. This is a winner. 1.00 risk is better than the initial risk already.
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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.