Trendline breakout with proper higher high structure formation
Aggiornato
The trade is already activated and it give me more than 17% return in just 7 trading session, I am sharing just for educational purpose.
As you all can see the blue line it is 2024 year open price value, it also act as (resistance / support) in most of the cases.
The price is taking support at yearly open level and from 200 EMA as well
Also a tight consolidation for few days, forming higher high and break the trendline
Breaking trendline and forming higher high is the process of price action. But taking support from 200 EMA and from yearly open price give me confidence that this trade have high probability.
Swing trading is the only (best and safest) way to make side income.
As you all can see the blue line it is 2024 year open price value, it also act as (resistance / support) in most of the cases.
The price is taking support at yearly open level and from 200 EMA as well
Also a tight consolidation for few days, forming higher high and break the trendline
Breaking trendline and forming higher high is the process of price action. But taking support from 200 EMA and from yearly open price give me confidence that this trade have high probability.
Swing trading is the only (best and safest) way to make side income.
Nota
All the learning and progress have been possible due to…1) Piyush-Gupta
2) tradersparadiselive
3) tradingwithrayner
Trade chiuso: obiettivo raggiunto
Today I am going to close the trade and it gives me 30% return in 12 trading session.Simple Price Action :-)
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