**Trade Setup**
**1. Direction:**
- **Uptrend** on the higher timeframe (1D chart) and the 15-minute chart confirms the bullish movement with a series of higher highs and higher lows.
**2. Entry Price:**
- **Buy Limit Order:** Place a buy limit order at **$2,468.00**. This level is close to a minor support level on the 15-minute chart, where a potential pullback could occur, providing a better entry at a lower risk.
**3. Stop Loss:**
- **Stop Loss:** Set your stop loss at **$2,460.00**. This is below the recent low on the 15-minute chart and is far enough to account for market noise but close enough to limit your risk.
**4. Target Price:**
- **Take Profit:** Set your take profit at **$2,490.00**. This level aligns with the next significant resistance level and is above a key Fibonacci extension level on the 15-minute chart, providing a solid reward-to-risk ratio.
**5. Trailing Stop:**
- Once the price reaches **$2,480.00**, move your stop loss to **$2,468.00** to lock in some profit while still allowing room for the trade to reach its target.
### **Trade Rationale:**
- The 1D chart shows a strong bullish momentum with the price breaking above recent highs, indicating potential for further upside.
- The 15-minute chart also shows a breakout and retest scenario, suggesting a continuation of the uptrend.
- This setup offers a favorable reward-to-risk ratio of approximately 2.75:1.
**1. Direction:**
- **Uptrend** on the higher timeframe (1D chart) and the 15-minute chart confirms the bullish movement with a series of higher highs and higher lows.
**2. Entry Price:**
- **Buy Limit Order:** Place a buy limit order at **$2,468.00**. This level is close to a minor support level on the 15-minute chart, where a potential pullback could occur, providing a better entry at a lower risk.
**3. Stop Loss:**
- **Stop Loss:** Set your stop loss at **$2,460.00**. This is below the recent low on the 15-minute chart and is far enough to account for market noise but close enough to limit your risk.
**4. Target Price:**
- **Take Profit:** Set your take profit at **$2,490.00**. This level aligns with the next significant resistance level and is above a key Fibonacci extension level on the 15-minute chart, providing a solid reward-to-risk ratio.
**5. Trailing Stop:**
- Once the price reaches **$2,480.00**, move your stop loss to **$2,468.00** to lock in some profit while still allowing room for the trade to reach its target.
### **Trade Rationale:**
- The 1D chart shows a strong bullish momentum with the price breaking above recent highs, indicating potential for further upside.
- The 15-minute chart also shows a breakout and retest scenario, suggesting a continuation of the uptrend.
- This setup offers a favorable reward-to-risk ratio of approximately 2.75:1.
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.
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.