FCPO 17 August 2021

Yesterday's price was still in the range. Testing support multiple times.

1.Today price open break yesterday resistance.
2.All EMA uptrend
3.Stoch oversold

However, the Stop loss is too large to take.
Wait for another setup with a good risk and reward ratio.

הערה:

1. The market build-up at the resistance area indicates the price is doing a valid breakout.
2. Price rejects EMA50 indicates a strong uptrend. Entry position.
3. SL 1xATR from recent support.

Managing trade.
1. Once price hit resistance, set BE

הערה:

Price respecting the range. Buy low sell high..

הערה:

Breakout support..
1. Fake breakout if 15min CS close inside range and vice versa

הערה:

Valid breakout because 2nd candle after breakout closes below support.
Looking for sell entry.

הערה:

TP fibo extension 1.618 (4369)
Next Gann line is 4357