STOP LOSS: 84.367
TAKE PROFIT: 77.189
Longer term trend:
A break of a , indicates a further movement ahead.
What I like:
1) the major area exists near the of the huge movement. This means a stop loss above these levels of interest is sufficient enough should the market need room to breathe.
2) since the start of 2018, only lower lows and lower highs were seen. this shows the decisiveness of the market.
3) a bar was formed after breaking the . such candlepattern indicates strong sentiment.
What I dislike:
1) price was flat from mid-september to mid-november, around the area marked in blue. This shows that the market is not as receptive to that zone as it was.
Other things to note:
1) a very aggressive stop-loss can be placed just above the , to increase position size while risking the same amount.
*This is my first few attempts to contribute to the tradingview community. All suggestions/feedback welcome!
x, and happy chinese new year,