Support from the lows of April 14/17th. Also broke out of a descending trendline (solid green line on 1hr chart), and came back to test it again, along with the descending support line (dashed green line, 1hr chart). It price action moves up and breaks out of the descending dotted green line, will move stop loss to breakeven and add to the trade.
Props to GWBFX for alerting me to this idea
Props to GWBFX for alerting me to this idea
Comment:
price has rallied and broken out of the dotted green line as per the plan. Will now add an ascending trendline from yesterdays low. the next play is to wait for price to form a swing low on the new ascending trendline, or pull back to test the dotted green line before forming a swing low. Will then add another position, the same size as the initial trade and move the stop loss to breakeven on part 1 of the trade :)