MY Entry Setup for High Probability Trade "Long"
SETUP for a Swing Trade with 5 to 1 and 10 -1 risk reward. ENTRY Range, Initial STOP, and 2 different Target levels listed on Chart. Any Questions happy to answer how I use this setup to make consistent profits.
Setup=
1. Bollinger Band extreme with strong bullish candle followed by 2 days closing above that candles low. Pattern has repeated again and again.
2. CCI cleared extreme -200 level "oversold and setting up a strong move.
3. Retracement in line around 50% supports the bounce
STOP Must be around 137 as this keeps the trade a 5 to 1 RISK REWARD 2st target and 10 to 1 2nd target, and do not trail stop until first target is hit, im willing lose that much on this trade knowing slippage is possible due to opening gaps in stock. also as this stock gaps up/down at open so any tighter u will be stopped out and I would not hesitate to re-enter trade if price clers 138.16 level. I will keep 137.12 stop until first target hit than will trail stop using Volatility stop.
Setup=
1. Bollinger Band extreme with strong bullish candle followed by 2 days closing above that candles low. Pattern has repeated again and again.
2. CCI cleared extreme -200 level "oversold and setting up a strong move.
3. Retracement in line around 50% supports the bounce
STOP Must be around 137 as this keeps the trade a 5 to 1 RISK REWARD 2st target and 10 to 1 2nd target, and do not trail stop until first target is hit, im willing lose that much on this trade knowing slippage is possible due to opening gaps in stock. also as this stock gaps up/down at open so any tighter u will be stopped out and I would not hesitate to re-enter trade if price clers 138.16 level. I will keep 137.12 stop until first target hit than will trail stop using Volatility stop.