As you can see i just drawn a channel that you can long on the touches of the bottom line (green cycle) and you can short on top line like the (red cycle)
2 Indicators MA200 &EMA 13 for your supports and resistances.
2 targets depending in which way the channel will break.
Yes this a pretty basic and simple setup and this is the point of the post.With all this fancy indicators and complicated patters we forgot how important is to make everything Simple and easy to trade.By achieving that the chance of error decreases drastically.
Thank you for reading my post, have a great day, wish you all the best !
Information provided is only educational and should not be used to take action in the market.
Feel free to ask anything in the comments :)
Comment:
stop loss on profit waiting for the target to hit
Trade closed: target reached