Panjang
LONG ACT
Medium to long term outlook : Bullish
Short term outlook : Bullish
Reason for Long :
1. Bullish long term trend channel (white)
2. Break of short term bearish trend channel (red - AKA Jump the Creek, Wyckoff), which found support at the blue support line
3. Followed by a test of the breakout (smaller red trend channel) (Back up to the Creek - Wyckoff)
Entry : break of high (occurred 1 bar ago, price at same level as break)
Initial Stop : swing low
Target : upper bullish trend channel (white) around $298
Note: Ideally the pullback would have come further back to the lower bullish trend channel line (white), therefore not an ideal entry (but still a valid long setup). Because of this the risk/reward ratio must be higher to compensate for the higher risk of a continuation of the pullback to the lower trend channel line (white), which is why the stop is very tight with a large target. (Risk:Reward is better than 1:8)
Short term outlook : Bullish
Reason for Long :
1. Bullish long term trend channel (white)
2. Break of short term bearish trend channel (red - AKA Jump the Creek, Wyckoff), which found support at the blue support line
3. Followed by a test of the breakout (smaller red trend channel) (Back up to the Creek - Wyckoff)
Entry : break of high (occurred 1 bar ago, price at same level as break)
Initial Stop : swing low
Target : upper bullish trend channel (white) around $298
Note: Ideally the pullback would have come further back to the lower bullish trend channel line (white), therefore not an ideal entry (but still a valid long setup). Because of this the risk/reward ratio must be higher to compensate for the higher risk of a continuation of the pullback to the lower trend channel line (white), which is why the stop is very tight with a large target. (Risk:Reward is better than 1:8)
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.