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Looking to take a 6 day Swing Trade IF price does an ABC correction where it is and drops to the bottom of this ascending channel in the .1280-.1260 area.
Stop loss below the descending channel at .12 for comfort or .1240 for a tighter stop loss. The wider stop loss allows for when price reverses but doesn't hit your stop loss and then comes back up to let you out closer to brake even. IF bullish signals are present at the entry level a tighter stop loss with a larger position is more than reasonable.
Target will be approximately 15% in the .1450 area at the top of the ascending channel. I have used trend time and curve of the momentum to project likely entry window and exit windows. The ascending channel has also been divided into quarter to visually represent where you should expect pull backs.
Trade Well..... IF it presents...
Looking to take a 6 day Swing Trade IF price does an ABC correction where it is and drops to the bottom of this ascending channel in the .1280-.1260 area.
Stop loss below the descending channel at .12 for comfort or .1240 for a tighter stop loss. The wider stop loss allows for when price reverses but doesn't hit your stop loss and then comes back up to let you out closer to brake even. IF bullish signals are present at the entry level a tighter stop loss with a larger position is more than reasonable.
Target will be approximately 15% in the .1450 area at the top of the ascending channel. I have used trend time and curve of the momentum to project likely entry window and exit windows. The ascending channel has also been divided into quarter to visually represent where you should expect pull backs.
Trade Well..... IF it presents...
