Long, rising trend channel on the weekly chart
Hi all,
I only take positions on the daily/weekly chart when trading equity as they are not open 24/7 and I find my win rate is higher historically. I have taken this setup.
Reasons to go long
- 200 MA is being respected
- support at 889 level
- ascending channel touches support level at the 889 level
- candle on the 12/12/2016 broke above previous weeks candle (pinbar)
- stop goes below the 200 MA
I only take positions on the daily/weekly chart when trading equity as they are not open 24/7 and I find my win rate is higher historically. I have taken this setup.
Reasons to go long
- 200 MA is being respected
- support at 889 level
- ascending channel touches support level at the 889 level
- candle on the 12/12/2016 broke above previous weeks candle (pinbar)
- stop goes below the 200 MA