Perfect retracement setup. It is a 30-minute chart and the stock retrace is back towards the 200 EMA with a good trend because ADX is more than 18 so fairly trending and retraced back to the 200 EMA. It then fell down and broke the structure. After it broke the structure I would recommend entering at the 50% retracement level. I have indicated the exact level in the diagram and I have also put a stop loss and target with a 2:1 risk/reward ratio
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.