Low risk setup for TRIP
Updated
Why is this setup good?
-Contextual uptrend
-Price continues moving in the direction of main trend since it bounced at longterm support EMA (200)
-Momentum building on MACD 12-26
-First reaction (contraction) since MACD crossover
-Trigger Candle testing EMA 3, 6, 18, 50
-Good Risk-Reward ratio ~ 5.15
Entry rules:
-Buy Stop order or Manual Buy at 57.89 at the next interval(candle) open
-Cancel the order at the end of the day if 57.89 does not get triggered
-Stop Loss (S/L) level at 55.78 (adjust position size accordingly, don't risk more than 3% for your current account balance)
Trade management
-Move S/L to break-even when price CLOSES above 58.11
Exit rules:
-Target Profit LVL 1 or LVL 2
-Contextual uptrend
-Price continues moving in the direction of main trend since it bounced at longterm support EMA (200)
-Momentum building on MACD 12-26
-First reaction (contraction) since MACD crossover
-Trigger Candle testing EMA 3, 6, 18, 50
-Good Risk-Reward ratio ~ 5.15
Entry rules:
-Buy Stop order or Manual Buy at 57.89 at the next interval(candle) open
-Cancel the order at the end of the day if 57.89 does not get triggered
-Stop Loss (S/L) level at 55.78 (adjust position size accordingly, don't risk more than 3% for your current account balance)
Trade management
-Move S/L to break-even when price CLOSES above 58.11
Exit rules:
-Target Profit LVL 1 or LVL 2
Order cancelled
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