Setup No. 1
In our previuos setup posted today, our flag was drawn with the triangle cloth. Now the redrawn flag is still puting us on the Buy Side but earlier than before.
Now we will take the buy limit order at 30005.4 with 1 to 1.17 risk to reward ratio.
Bullish Cases:
Total Risk 2% - 1% each trade
Entry: 30005.4 (Buy Limit)
SL: 29329.0
TP1: 31780.7 (1:1.19% risk to reward)
TP2: 32034.3 (1:3% Risk to Reward. If TP1 hit then 0:3% Risk to Reward)
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Setup No. 2
After Setup No. 1, we will extend our position with another buy considering the breakout of Flag. Means, if our TP1 of Setup No. 1 Hits, then Setup No. 2 excectes automatically
I will place two Buy Stop orders at the same entry level:
Once TP1 is hit, I will move the SL of the remaining trade to Breakeven and let the second position run toward TP2.
Note: Trades Must be cancelled if the price do not trigger and breakdown occurs below 130105.
Total Risk 2% - 1% each trade
Entry: 30757.7 (Buy Stop)
SL: 29895.5
TP1: 31789.1 (Win Ratio: 1:1.20 = 1.20%)
TP2: 33342.0 (Win Ratio - 1:3 or 0:3 in case our 1st TP Hit.)
Now its upto you guys whether to trade setup 1 or setup 2.
BEST OF LUCK.
In our previuos setup posted today, our flag was drawn with the triangle cloth. Now the redrawn flag is still puting us on the Buy Side but earlier than before.
Now we will take the buy limit order at 30005.4 with 1 to 1.17 risk to reward ratio.
Bullish Cases:
- Flag pattern on 4H timeframe indicates a good Bullish scenario.
- A good flag pattern on weekly timeframe is already in play.
- 1H Timeframe is in consolidation mode where the potential breakout of Triangle is likely to materialize.
Total Risk 2% - 1% each trade
Entry: 30005.4 (Buy Limit)
SL: 29329.0
TP1: 31780.7 (1:1.19% risk to reward)
TP2: 32034.3 (1:3% Risk to Reward. If TP1 hit then 0:3% Risk to Reward)
-------------------------------------------------------------------------------------------------------------------
Setup No. 2
After Setup No. 1, we will extend our position with another buy considering the breakout of Flag. Means, if our TP1 of Setup No. 1 Hits, then Setup No. 2 excectes automatically
I will place two Buy Stop orders at the same entry level:
Once TP1 is hit, I will move the SL of the remaining trade to Breakeven and let the second position run toward TP2.
Note: Trades Must be cancelled if the price do not trigger and breakdown occurs below 130105.
Total Risk 2% - 1% each trade
Entry: 30757.7 (Buy Stop)
SL: 29895.5
TP1: 31789.1 (Win Ratio: 1:1.20 = 1.20%)
TP2: 33342.0 (Win Ratio - 1:3 or 0:3 in case our 1st TP Hit.)
Now its upto you guys whether to trade setup 1 or setup 2.
BEST OF LUCK.
Trade active
Setup No. 2 had been triggerred. We now removed the Setup No. 01.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.