Lets see how this trade plays out, I'm not a big trader in this market so taken a smaller position size on this
Analysis:
1) Monthly time frame = strong uptrend
2) Daily up channel where we are currently at a low price
3) Daily bullish wick rejection at 61.80% Fib retracement which also happens to be at up trendline and horizontal support
4) 1Hr head and shoulder's pattern at this zone
I entered at a counter trend line break bullish
Analysis:
1) Monthly time frame = strong uptrend
2) Daily up channel where we are currently at a low price
3) Daily bullish wick rejection at 61.80% Fib retracement which also happens to be at up trendline and horizontal support
4) 1Hr head and shoulder's pattern at this zone
I entered at a counter trend line break bullish
Trade active:
SL = 15048.64
TP = 182181
position size = 0.5
will manually close position base on market behavior
TP = 182181
position size = 0.5
will manually close position base on market behavior
Trade closed manually:
price initially went in our favour
Trade closed: stop reached