I'm buying a position gradually for a couple more days, so far, I have fills at 9.1643 and 9.2085, which will constitute my reentry to ride the long term uptrend here. My trading plan lets me increase position size and reduce stops gradually, until the trend takes me out if it starts retracing, after which I wait to reenter at the end of the corrections.
Risking a drop under today's low is probably good, but also a bit aggressive for now. If it were to get oversold, we would have a bit less risk with tight stops, so for now, I risk 3 average ranges down from my avg . entry price. I'll gradually add, and eventually trail stops up in profit, and continue to add as per the plan if the trend remains up.
When markets are trending strongly, we can make a lot of money, so, make sure to not miss the moves here.
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This is the bottom of the pullback. Stop under Friday's low should work.
re: candles, I prefer bars.
In the long term it can go up to 10+, 10.70-11 even.
Merry Christmas too :)