This morning the market open with a gap up and stopped at 2724 (at the same level as previous high). For here on, we better wait for a better signal, because: (1) if the 2725 level is being respected, it means the market will form a double tops. (2) if the 2725 level is broken with a clean break (bullish momentum), then we can ride up to 2830.
For my own preference, I prefer to wait until the price make a small pullback at 2645 area.
This week trade call: Buy Limit at 2645 Stop Loss at 2563 Take Profit at 2830 Risk Reward ratio = 2.3R
Disclaimer: This is for education purposes, you may follow with your own lot sizing and risk appetites. As usual, I would like to make it as a habit, once your position(s) is/are in the profit zone, please move your positions to Break Even.
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