This is a risky position because the bullish momentum in the 3H is not yet confirmed in the 6H. However the 12H and 24H timeframes all look like they are eager to allow bullish moves. The question is, when we should be opening our positions. I am likely going to go for a close Stop Loss, and conservative Take Profit locations in this case. Would rather wait for the breakout, or confirmation in the upper time frames.
Trade closed: stop reached:
We have reached our max downward potential loss.