Today, we have a long trade to share on this ETF. Here is the full explanation
a) The price is above a major Support zone that was resistance before
b) We can see a clear ABC pattern (continuation structure above the Support and on the edge of the ascending trendline)
c) Based on these 3 items, 1) Corrective structure b) Supported on a Major level c) The price is on the edge of the ascending trendline. We will develop a long setup
d) The entry Stop and Take profit are the ones you can observe on the chart
e) Our Break Even level is the yellow line
f) Here, we will take a 1% risk of our capital
g) If the price goes below C, we will cancel the setup
h) Remember: Trade Safe, protect your capital, and always understand what you are doing.
a) The price is above a major Support zone that was resistance before
b) We can see a clear ABC pattern (continuation structure above the Support and on the edge of the ascending trendline)
c) Based on these 3 items, 1) Corrective structure b) Supported on a Major level c) The price is on the edge of the ascending trendline. We will develop a long setup
d) The entry Stop and Take profit are the ones you can observe on the chart
e) Our Break Even level is the yellow line
f) Here, we will take a 1% risk of our capital
g) If the price goes below C, we will cancel the setup
h) Remember: Trade Safe, protect your capital, and always understand what you are doing.