Manhattan Associates (MANH)Asset Class: Stocks
Income Type: Daily
Symbol: MANH
Trade Type: Long
Trends:
Short Term: Down
Long Term: Up
Set-Up Parameters:
Entry: 273.88 (at the Breakout)
Stop: 260.94
TP 312.72 (3:1)
Trade idea:
A price pin into a daily demand zone formed by a rally-base-rally with Fair Value Gap , entered at 3rd closing candle as a confirmation for the up trend continuation. The setup has a 3:1 RRR. The RSI is oversold on the 4H , and heading up.
!!Be aware of pending Economic Reports. If price is within 20 pips of proximal value at time of major impact report, then Confirmation entry.
Trade management:
**When price hits 1:1 or T1, consider moving stop to entry in case of pullback.
**Disclaimer**:
The trading strategies, ideas, and information shared are for educational and informational purposes only. They do not constitute financial advice or a recommendation to buy or sell any securities, currencies, or financial instruments. You should do your own research or consult with a licensed financial advisor before making any trading decisions. The author assumes no responsibility for any losses incurred from following these trading ideas.
