I canceled the last trade a little bit too soon. If I would step into, I'd reach target 1 at 118 (7% gain). But OK, let's try another one.
There is uptrend channel forming on 4H chart and point of interest would be on intersection of bottom of this channel and the middle of the bigger downtrend channel (marked green).
I'll wait for waters to clear up before set up a final trade.
Disclaimer: this idea is solely for my own purposes, to satisfy the ego, if it will work out ;)
Daily chart:
There is uptrend channel forming on 4H chart and point of interest would be on intersection of bottom of this channel and the middle of the bigger downtrend channel (marked green).
I'll wait for waters to clear up before set up a final trade.
Disclaimer: this idea is solely for my own purposes, to satisfy the ego, if it will work out ;)
Daily chart:
Note
New area of interest: between 114 and 116.Note
It almost touched 113, let's wait and see how it will behave here. Currently I will not jump in.Note
Trade setup:- entry: 112.51
- stop loss: 108
- target 1: 125.50
Trade active
Trade closed: stop reached
Another SL reached.
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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.