This might be a move
Often there is a reaction (up or down) at the half way point; 870
Target is 1087 on this move.
I lean to the upside in part because of the touch and rapid retracement of price to the CD line a few hours ago
An entry now would require a large stop below the spike low at 800
Risk is 60USD
reward is 227
R:R ratio 3.78
so position size is important
The first thing is to practice. Do it yourself. Mark up 7 charts a day and in 2 years you will have done 5000. By that time your eyes will be able to spot patterns that you never saw before. It took me several years to see these patterns.
If you draw a line on any chart you can connect several highs or lows. So how do you know when you have the right slope? Move it around the chart and see if the highs line up or the lows line up. A particularly pertinent is finding is when price bounces under a line breaks through it and then bounces on top or vice versa. Use only one or two methods . I use only straight lines, nothing more. Keith