I am placing a limit order for a long position at 42,027 in the anticipation of a pullback to support. My stop is 150 ticks ( based on the 115 tick ATR ) and my target is 2.5 risk to reward or 375 ticks. Will I know if this support level will hold? No, and I don't need to. To me, this is a great location, and I am willing to put risk on to find out.
I am bullish the next three months and so, will mainly look for buy setups when they present. This trade, I am buying the level and not waiting for confirmation.
If you take the same trade, manage your risk as any trade can fail.
I am bullish the next three months and so, will mainly look for buy setups when they present. This trade, I am buying the level and not waiting for confirmation.
If you take the same trade, manage your risk as any trade can fail.
Trade closed: stop reached
I was filled and stopped out just a few moment later. I feel like this still was a good trade. On ES, it would have been a winner. The Dow spiked down too far. It just as easily could have been the other way around. I chalk this up to random probabilitly. ES:
Dow
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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.