Bouncing bullish off of bottom of channel and 100 ema. 1.75:1 RR. Stochastic supports long. 10-day expectancy.
Comment:
Stop close / Still within buy parameters - review for re-open
Trade closed: stop reached:
Will not re-open at this time. RR is not strong enough at 1.75:1 and too close to midchannel where upward move will meet resistance. Wait for better entry.
Comment:
Not a bad trade overall. Stop could have been place a bit lower, better aligned with structure and would not have stopped, however, this would have further eroded an already modest RR. Barely stopped out due to very quick move down and back up. Is sitting at prev entry point now. RR and stop placement still susceptible.