Interesting long setup. (If only it wasnt Friday afternoon.....)
1. Donchian lines are upsloping
2. Price has already retraced below middle donchian line
3. 50 period MA below price and upsloping
4. Price looks like resuming the uptrend
So I am long as soon as price cross the high of the previous bar. (1203.3)
1st Profit Target: The upper Donchian line, almost 1:1.30 R/R
2nd Profit Target: open with trailing stop.
If 1st profit target is acomplished then move all stops to breakeven.
StopLoss is set below the recent swing low (1190.8)
1. Donchian lines are upsloping
2. Price has already retraced below middle donchian line
3. 50 period MA below price and upsloping
4. Price looks like resuming the uptrend
So I am long as soon as price cross the high of the previous bar. (1203.3)
1st Profit Target: The upper Donchian line, almost 1:1.30 R/R
2nd Profit Target: open with trailing stop.
If 1st profit target is acomplished then move all stops to breakeven.
StopLoss is set below the recent swing low (1190.8)