Breakout in Making. Still 1 more trading day to go. Should it Close like this then Expect Buyers to stay in control till Zone 124_129
Strong Weekly Close Above Resistance Zone would mean a Change in Trend. However That doesn't mean Trend has changed. We need to See Lower Low and Higher post Change in Trend. This will signify Uptrend has Started.
Risk Reward in current Breakout Trade is not Favorable for those who look for minimum of 1:1
I don't believe in R:R, Because playing by R:R doesnt mean Risk will be same for each and every Trade in term of Points and Rewards wont be lining up with Price Levels to Serve Justice. Higher R:R doesn't mean 100% Target will Hit Lower R:R doesn't mean 100% Stop Loss will Hit. Just need to keep Position Sizing Constant.