Buying here with a close above the median line (trend line) and range line (horiz line)with tight stop below 3-day range (which is also back into the lower range). Target is range-up (the dotted trendline above) based upon a measure of the lower range. A trader may want to use the 10-day ema as a trailing stop (but I do not use moving averages for this strategy).
This is the more aggressive trade. It would not be uncommon for the initial trendline breakout to fail, then retrace to the line (retest), and then take out the breakout candle. That is the ideal and more probable setup.
This is the more aggressive trade. It would not be uncommon for the initial trendline breakout to fail, then retrace to the line (retest), and then take out the breakout candle. That is the ideal and more probable setup.