Have a look at the daily bullish engulfing candle that formed yesterday. you can trade this pattern as well which comes more or less to the same entry as buying above the top of the corrective structure (see below)
We saw an impulsive looking upmove. Now we are in 1h correction and waiting for a potential breakout.
Buy above the corrections high or above the first impulsive move would be a good idea.
Find better entries maybe at the 0.618% retracement or the break of the 1h corrective structure that is forming at the moment.
stopp below the low of below the candle that may break the corrective structure to the upside.
dont risk more than 1-2% of your trading money on that stopploss.
We saw an impulsive looking upmove. Now we are in 1h correction and waiting for a potential breakout.
Buy above the corrections high or above the first impulsive move would be a good idea.
Find better entries maybe at the 0.618% retracement or the break of the 1h corrective structure that is forming at the moment.
stopp below the low of below the candle that may break the corrective structure to the upside.
dont risk more than 1-2% of your trading money on that stopploss.
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