We have a asymmetrical triangle that broke out and came back to retest and gave us a strong bullish rejection in the form of a pin bar. Long position is the same size as the flag pole to complete the pattern.
we have a 1:5 ratio on this position.
Nasdaq seems to have stopped and is pushing up to wards the gray zone which is the 50.0% to 61.8%region which also lines up with the trend line.
We will be taking profits as follows; TP1: close 50% of the position, TP2: close 25% of running position, TP3: final TP and remaining 25% is closed.
Entry will be on the basis of two main types. A risk entry within...
From our current forecast we find that we have a nice descending trend line with two touches and we currently expecting price to touch the trend line before pushing to the downside.
We also find that we have a lower high followed by a lower low. Thus expecting price to form a new lower high before pushing to the downside.
We also have confluence with the 50%...
Broken trend line. waiting on the retest to our buying zone. will scale down to 15min TF to look for reasons to buy.
will be looking to get a 1:5 risk to reward to allow for a nice stop loss.
