The system is based on trend following approach. There is no profit target, just proper risk management and following of the trend.
The price showed rejection from zone of support and in the same time from the 200EMA expect further bullish move.
The market had been in an uptrend after that had made deep correction and formed bottom. The price started to make higher highs and higher lows which is indicator that the marker is preparing to get back in an uptrend. The 200 EMA is also pointing higher. Set a limit order which was activated after that the price went against me but didn't manage to hit the stop...
The price broke out of the consolidation zone. The 200 Ema is pointing higher which indicate the market is preparing to go in long term uptrend. Set a limit order at the highlighted area which was activated.The volume is increasing as well.
Expect deeper correction to some of the previous highs. At these areas I will look for long.
Expect deeper correction to some of the last highs. A will look for long at some of these areas.
The price break the resistance area, expect further movement.