Following the close back inside the weekly channel price has formed a bullish pennant which has broken north. The current most relevant pattern is active showing a 3rd tap / bank level area for a potential buy.
@Marcusll, yes true. As per you trade shot it was taken on a Buy Stop criteria as you are trusting the TL structure and to take advantage of the early entry. But should have waited for a reversal from the TL and support zone and then entered
@faeser10, another reason why I placed stop on break even was the rejection of the level. There was no real momentum if you look at the candlesticks they were very wicky with little bodies. Tts gone now went parabolic north but a trade I'd happily take over and over again as it ticked all my boxes and followed the trading plan!
@Marcusll All depends on your trading plan and entry criteria. Personall i prefer limit order as it takes away emotions such when you enter manually. A pull back after confirmation is usually my second entry once ive scaled and covered stops on my initial position.