S
TRADE PARAMETERS
Pick Date : 04/13/18
Entry : 5.14
Stop : 5.09
Target : 7.00
Entry : 5.05
Stop : 4.95
Target : 7.00
TRADE STRATEGY
Income Type : Swing
ENTRY
5.14 is a fresh 4H demand zone RbR. Speculating a weekly trend reversal. Will be doing a set and forget limit order. One can enter in the zone at 5.16 just use risk management and position size accordingly with the suggested stop. Price will need to have a strong move into the zone. Just note this could be a bull trap area too. So I've got a tight stop but looking to re-enter right below at 5.05.
STOP
5.09 is $0.05 right outside of the low for some protection. Again this may be a bull trap so I've set another entry with a stop at 4.95
TARGET
7 is 2.00 higher in a fresh weekly supply zone with a daily 4H supply nested.