CEG Long (Stop Limit)

Asset Class: Stocks
Income Type: Daily
Symbol: CEG

Trade Type: Long

Trends:
Short Term: Down
Long Term: Up

Set-Up Parameters:

Entry: 237.90 (at the Breakout)
Stop: 223.79
TP 223.79 (3:1)


Trade idea:

A price pin into a daily Fair Value Gap , Buying the Stop as the price pullback and the SL at the last swing low. The trade setup also use the Elliot wave analysis, where the price is likely to form wave 5 next. The setup has a 3:1 RRR. The RSI is oversold on the 4H , and heading up.

!!Be aware of pending Economic Reports. If price is within 20 pips of proximal value at time of major impact report, then Confirmation entry.

Trade management:

-Split the TP to 3 orders at each TP
-when price hits 1:1 , consider moving stop to entry in case of pullback. So your trade is risk free.
-After TP2 hit, you might consider canceling the TP3 and trail the SL to maximize your profit.

**Disclaimer**:

The trading strategies, ideas, and information shared are for educational and informational purposes only. They do not constitute financial advice or a recommendation to buy or sell any securities, currencies, or financial instruments. You should do your own research or consult with a licensed financial advisor before making any trading decisions. The author assumes no responsibility for any losses incurred from following these trading ideas.