Based on the price action at the trendline support, a Long trade may be planned. The previous High can be set as the short term target. If the price goes higher than the previous High then trailing Stop Loss can be used to maximize the gains. This is easier said than done. I am the absolute worst at trailing the Stop Loss :). But practice !!!
Trade closed: stop reached:
Stop Loss Hit
Entry = 137.70
Stop Loss = 134.00
Loss = 2.65%
Trendline and Support are Broken. Nonetheless, my entry technique was poor.
Entry = 137.70
Stop Loss = 134.00
Loss = 2.65%
Trendline and Support are Broken. Nonetheless, my entry technique was poor.