Looking for long term trading this is a chart that can show the opportunity of making a trade with a Risk/Reward Ratio of 4.2 ! For every dollar of risk you can make 4.2 dollars. The target profit is at that level because it is the level 0.618 of the downtrend that can retrace back to that point plus showing a higher high with the new formed trend( the bullish trend )
Morning traders!
1H Chart
Have a great setup here with the possibility of multiple long positions.
With a current target of (4) breaking back into the wedge confirming (5)'s target, This is a great opportunity for PRO or Ameture traders looking to make a profit.
My tolerance for risk is sitting at about 85% upwards if my targets are reached.
Note: This setup...