Breakout Trade Update: Long Index ETF-QLD

Long at 90.50 on the 17/08/20
Move stop loss to from 94.76 to 95.50.
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Legend:
DC(5) Up := Donchian Channels upper band (5 length).
DC(6) Low := Donchian Channels lower band (6 length).
IntStp(8%) := Initial Stop Loss set at 8% below entry price.
PFZone := Exit/profit taking indicator (green diamond).

Entry Rules:
1. Place a Buy Stop at the DC(5) Up Price.
2. If buy stop is filled, place the IntStp(8%).
3. However, if orders are not filled, cancel orders at the end of the trading session.

Exit Rules:
1. At the close of the trading session, if the DC(6) Low is above IntStp(8%), than adjust stop loss to the DC(6) Low price.
2. However, If IntStp(8%) is above the DC(6) Low, then use the IntStp(8%).
3. If the PFZone has been triggered then exit at market on open at the next trading session.

Notes:
The Profit Zone indicator is a proprietary indicator designed to improve the performance as an alternative exit rule.
However, the strategy is a stand-alone system and does not require the profit zone indicator.

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