Strong Support: FIL is seen as a buying opportunity.
Market Structure: On the 4-hour chart we have twice a break of structure(BOS) which is a bullish reversal, we have HH $6.19 LL $4.4
Golden Cross: This bullish signal is also observed, further supporting the optimistic view.
Trading Strategy:
Stop Loss: Set at Fib retracement 0.5($4.93) - 0.667($4.18)
Profit Targets: Fib Extension 2($8.9) 1.618($8.1)
First Target: $8.1. At this level, you suggest taking 30% of the profit.
Second Target: $8.9. This is where I recommend taking the biggest portion of the profit remaining 100% of the position.
Risk Management: My strategy includes a clear plan for taking profits at different levels, which helps manage risks and secure gains.
Personal Opinion: This is my opinion and encourages others to take profits staggered, as per my suggested levels.
It's important to note that this represents a personal viewpoint and strategy, and market conditions can change unpredictably.
Traders should research and consider their risk tolerance before following any trading strategy.
Please note that this analysis represents my perspective and is not professional financial advice. I am not a financial advisor. Each individual needs to do their research and consider all risks before making any investment decisions. Markets can be unpredictable, so informed and cautious trading is always recommended
Market Structure: On the 4-hour chart we have twice a break of structure(BOS) which is a bullish reversal, we have HH $6.19 LL $4.4
Golden Cross: This bullish signal is also observed, further supporting the optimistic view.
Trading Strategy:
Stop Loss: Set at Fib retracement 0.5($4.93) - 0.667($4.18)
Profit Targets: Fib Extension 2($8.9) 1.618($8.1)
First Target: $8.1. At this level, you suggest taking 30% of the profit.
Second Target: $8.9. This is where I recommend taking the biggest portion of the profit remaining 100% of the position.
Risk Management: My strategy includes a clear plan for taking profits at different levels, which helps manage risks and secure gains.
Personal Opinion: This is my opinion and encourages others to take profits staggered, as per my suggested levels.
It's important to note that this represents a personal viewpoint and strategy, and market conditions can change unpredictably.
Traders should research and consider their risk tolerance before following any trading strategy.
Please note that this analysis represents my perspective and is not professional financial advice. I am not a financial advisor. Each individual needs to do their research and consider all risks before making any investment decisions. Markets can be unpredictable, so informed and cautious trading is always recommended
Comment:
Ignore the Fib Retracement on the Graph I forgot to remove it
Comment:
Target One Reached! Congrats
Trade closed: target reached:
Congratulations