It respected perfectly 8355 level (resistance) to bounce down and now is about to face the Overall which can be considered now a (was a resistance).
If it can bounce back up from the (around 8150) I would definitively take a long position with a tight stop Loss. (Manage risk before all)
If it never reaches back 8150 level, then no trade
Timeframe 4 hours
Now looking for Target 2 875
I would expect a retracement before it continues to the UP
Looking good our trade
Don't turn a green trade into a red trade, which means, closing the position if price come back to entry point so at this time we are just trading with FREE money, else keep the position open to reach our next targets.
Next step target 3. Close if it comes back to Entry point.
Target 4 maybe you can put 10K (psychological level)
Now we are expecting 10k to be reached
Remember in this position we are already in BIG profit so we are not risking any money from our pockets.
Options to close your remainig position
1. If it comes below 9000 level
2. If it comes back your Target 2
3. If it comes back to your Target 1.
I would personally close it if it comes back to my Target 1.
This is a winner no matter what and it has been a great trade
Still my T4 is 10K pyschological level.
I would take remaining balance at that point.
Kepp it open
Why is being so difficult to reach 10k? Mostly because people are taking profits (they are happy with what they profit, normally they would bought at 6k, 7k level and selling already). Too many people taking profits at this level make the price to stop rallying but on the other side, once the price pass 10k, new buyers will come.
Remember, we are playing with free money already so we can allow Big retracement as we already took 3 targets.
I will keep the plan for T4 and only close it if come back to T1
Keep trade open to get our T4 @10K
We got T1, T2 and T3 for a great trade