Trade Setup
**Direction:** Trading in the direction of the major trend in the higher timeframe, which appears bullish on the 1D chart, with a potential breakout above previous highs.
Entry
**Buy Limit Order:**
- Place a buy limit order at **$2,444.00**.
- This level is slightly below the current price and aligns with a Fibonacci retracement level of 0.618 on the lower timeframe, which often acts as strong support during pullbacks in an uptrend.
Stop Loss
- Set your stop loss at **$2,437.00**.
- This is just below the significant support level and the previous swing low on the 1H chart. This placement minimizes the risk of getting stopped out during minor price fluctuations.
Take Profit
**Take Profit:**
- Set your take profit at **$2,475.00**.
- This level is just below the recent high on the daily chart, where liquidity and a potential reversal could occur.
Trailing Stop Adjustment
- **Initial Stop Loss:** $2,437.00
- **Adjust to Breakeven:** Once the price reaches $2,455.00, move your stop loss to breakeven at $2,444.00 to protect your capital.
- **Further Trailing:** If the price continues to rise, move the stop loss up to **$2,460.00** when the price reaches **$2,468.00**.
Risk-Reward Ratio
- **Risk:** $7.00 (approx)
- **Reward:** $31.00 (approx)
- **Risk-Reward Ratio:** Approximately **4.42**
**Direction:** Trading in the direction of the major trend in the higher timeframe, which appears bullish on the 1D chart, with a potential breakout above previous highs.
Entry
**Buy Limit Order:**
- Place a buy limit order at **$2,444.00**.
- This level is slightly below the current price and aligns with a Fibonacci retracement level of 0.618 on the lower timeframe, which often acts as strong support during pullbacks in an uptrend.
Stop Loss
- Set your stop loss at **$2,437.00**.
- This is just below the significant support level and the previous swing low on the 1H chart. This placement minimizes the risk of getting stopped out during minor price fluctuations.
Take Profit
**Take Profit:**
- Set your take profit at **$2,475.00**.
- This level is just below the recent high on the daily chart, where liquidity and a potential reversal could occur.
Trailing Stop Adjustment
- **Initial Stop Loss:** $2,437.00
- **Adjust to Breakeven:** Once the price reaches $2,455.00, move your stop loss to breakeven at $2,444.00 to protect your capital.
- **Further Trailing:** If the price continues to rise, move the stop loss up to **$2,460.00** when the price reaches **$2,468.00**.
Risk-Reward Ratio
- **Risk:** $7.00 (approx)
- **Reward:** $31.00 (approx)
- **Risk-Reward Ratio:** Approximately **4.42**
Note
As mentioned in the comments, our stop loss has closed this trade in profits. Stay safe! 
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.