Trade Entry Trigger Long (Limit Order 43,260) 5 to 1 (1000 ticks
I am placing an order for 43,260 for the pullback of the bull 180 bar for the reversal back up into those stacked highs for 1000 ticks.
I will be placing my stop under the bull 180's wick and under the 0.66 retracement. Around 175-200 ticks.
The stacked highs of liquidity lines up with 2x range expansions of the bull 180.
Two important take aways with this trade idea
1: Price cannot even pull back and I don't get a fill down there, thereby missing the trade
2: Price can indeed fill me and blow right through my stop.
I am ok with risking 1% for a potential 5% gain.
If you are comfortable taking this setup then you need to be ok with both 1 and 2 scenarios AND have the conviction to hold to target.
Entry: 43,260
Stop: 43,060
Target: 44,270
I will be placing my stop under the bull 180's wick and under the 0.66 retracement. Around 175-200 ticks.
The stacked highs of liquidity lines up with 2x range expansions of the bull 180.
Two important take aways with this trade idea
1: Price cannot even pull back and I don't get a fill down there, thereby missing the trade
2: Price can indeed fill me and blow right through my stop.
I am ok with risking 1% for a potential 5% gain.
If you are comfortable taking this setup then you need to be ok with both 1 and 2 scenarios AND have the conviction to hold to target.
Entry: 43,260
Stop: 43,060
Target: 44,270
Note
The same idea on the 2 Hour chart is what happened on the 15 minute chart today. A pullback into the bull 180 bar for the run back up.Trade active
I am filled at 43,260Now to let the idea play out
Note
So far the entry was spot on. Now price needs to get up and above the weekly open. I will tighten up my stop from 200 ticks to 125 ticks as price should not be returning here for this trade idea to play out. Trade closed manually
I ended up closing the trade at the 1.5X range expansion and called it a day after the 1% rally today. This trade was spot on from the entry to profit. I am actually quite surprised how accurate I was this week on what price was going to do. This tells me I am improving. 
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Related publications
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.