A trade we took based on the following idea:
Target 1 - Volatility Channel
Target 2 - Daily Volatility Pivot
Stop loss - Below Daily Volatility Pivot, just around the lines signaling the weekly bias.
You can check more about how we trade based on our system posted in our profile, "Gandulfas Trading System"
- Weekly BIAS: Long
- Volatility Channel: Entry on dynamic support
- Momentum Indicator: "Oversold" - Indicating a good retracement
- Volatility pivots: Price slightly above them, in sync with the volatility channel
Target 1 - Volatility Channel
Target 2 - Daily Volatility Pivot
Stop loss - Below Daily Volatility Pivot, just around the lines signaling the weekly bias.
You can check more about how we trade based on our system posted in our profile, "Gandulfas Trading System"