Support and Resistance

26 Ağu 2019

A Daily significant level that was chosen had a price action that was deemed bullish. Expecting the price to retrace to a Fibonacci 61.8 level (which is in the same area as another chosen monthly significant level for TP. SL is set slightly below the wicks of previous daily bars. R:R is 1:3 for this.

8 Eki 2019

İşlem kapandı: hedefe ulaştı

Was stopped out 1st time around as SL was too tight.
But the trading plan was still valid as long as the price didnt clear the 2 orange support zones. Position was taken again after rejection of support zone and this time around TP was hit.