CDNS - Uptrend + Pinbar from value zone
I. Analysis
1. Strong in an uptrend as defined by the series of hh/hl + price trading above 20MA - looking for long opportunities
2. 20MA tested trice as support and held - value zone identified
3. Significant bullish pinbar formed upon third test of 20MA - entry trigger
To sum up, we are trading in the direction of the trend - after all the trend is our friend. We are trading from a vale zone as identified by the 20MA - this zone allows us to set an obvious stop loss + expanding the potential profits to be taken increasing the r/r ratio. Finally, we have a clear entry trigger as well in the form of a bullish pinbar.
II.Trade
1. Enter next candle
2. SL 1 ATR below 20MA // traing 20MA for trend following
3. TP next sing high for traders with more pain aversion // TP once price crosses and holds below 20MA for trend followers (trace SL)
Plsd to hear yr comments.
Cheers
Ruben
1. Strong in an uptrend as defined by the series of hh/hl + price trading above 20MA - looking for long opportunities
2. 20MA tested trice as support and held - value zone identified
3. Significant bullish pinbar formed upon third test of 20MA - entry trigger
To sum up, we are trading in the direction of the trend - after all the trend is our friend. We are trading from a vale zone as identified by the 20MA - this zone allows us to set an obvious stop loss + expanding the potential profits to be taken increasing the r/r ratio. Finally, we have a clear entry trigger as well in the form of a bullish pinbar.
II.Trade
1. Enter next candle
2. SL 1 ATR below 20MA // traing 20MA for trend following
3. TP next sing high for traders with more pain aversion // TP once price crosses and holds below 20MA for trend followers (trace SL)
Plsd to hear yr comments.
Cheers
Ruben
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