Market has tended to break support, then rise back through resistance with high volume. This strategy takes advantage of sustained high volume price increase, allowing for a tight stop. Stop triggers when the market has failed to break resistance and continues to fall towards next support at fib 0.618. We further lower risk because the pending order is only placed once the market has closed below support and only triggered if the market breaks resistance.
STRATEGY
If market closes below support at 34833 (fib 0.786).
Then set a pending order above support.
Exit at recent high.
R/R: 4.62
STRATEGY
If market closes below support at 34833 (fib 0.786).
Then set a pending order above support.
Exit at recent high.
R/R: 4.62