Fellow Traders,
Price has bounced off a key level at 16.8, you will see this level acting as prior resistance which has now become support. This indicates strength and we will look for a move upwards.
A short-term uptrending channel is also in place and shown by the blue trendlines. Similarly, price has respected the slopes of this channel and support has been found.
Entry: 16.875
SL: 16.725
TP1: 17.315 (Take 50% of position)
TP2: 17.8
I suggest risking no more than 1% per trade by adjusting your position size accordingly.
Luke
Check out my performance record of all published trades on TradingView: tinyurl.com/klkd2vr
Price has bounced off a key level at 16.8, you will see this level acting as prior resistance which has now become support. This indicates strength and we will look for a move upwards.
A short-term uptrending channel is also in place and shown by the blue trendlines. Similarly, price has respected the slopes of this channel and support has been found.
Entry: 16.875
SL: 16.725
TP1: 17.315 (Take 50% of position)
TP2: 17.8
I suggest risking no more than 1% per trade by adjusting your position size accordingly.
Luke
Check out my performance record of all published trades on TradingView: tinyurl.com/klkd2vr