Only if the price closes above 285 (green line) can the pattern be considered active and confirm our entry.
The stop loss (red dash line) is to be followed on a closing bases.
Above the green line, the price will be at an ATH and therefore no past resistance to be noted. Only trail the SL based on any system or price action that is suitable.
RR can be 1:3
--- --- --- --- ---
“My only sound reason for buying a stock is that it is rising in price. If that is happening, no other reason is required. If that is not happening, no other reason is worth considering.”
– Nicolas Darvas
The stop loss (red dash line) is to be followed on a closing bases.
Above the green line, the price will be at an ATH and therefore no past resistance to be noted. Only trail the SL based on any system or price action that is suitable.
RR can be 1:3
--- --- --- --- ---
“My only sound reason for buying a stock is that it is rising in price. If that is happening, no other reason is required. If that is not happening, no other reason is worth considering.”
– Nicolas Darvas
Trade active
SL can be trailed to entry price.
Disclaimer
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.
Disclaimer
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.