Lower time frame perspectivve for a better timing?
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This kind of observations are personal notes useful in order to keep the record of how one should approach to the dynamic of the trends ...
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The price open with a Gap to the downside, so the initial idea is no longer valid in terms of the stop loss level ... so we will see this market closely if we can get a cheap entry to the long side
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At the end the entry was given, however the location of the stop Loss was a little bit lower, so the expected Risk to Reward scenario is going to be less than 3:1 ... around the 2.5 RR
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Trailing Stop or taking some partials would be a good idea ... in any case it depends on the trading plan of each trader
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Trailing stop to Break even
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Trailing Stop Below the Last Swing Low
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Trailing stop based on the lower limit of the consolidated trend channel