As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=120.05. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=120.5. TP4: R2=120.65. Set the stoploss of these orders at breakout of S2=119.9.
Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of S2=119.9. In this situation, there is an expectation to reach the target S3=119.1. Set the stoploss of reverse orders at breakout of S1=120.05.
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