I twitted FB long here and here because It had a very clean price action , which in no way means it always works but in my opinion is quite better odds going long rather then short.
- Coming out of daily congestion above all SMAs on daily
- Above the SMAs on intra day
- Above PDC 104.50 and PDH 105.00
Strategy No. 1 with a tight 2 min candle stop :
Just reading the highs of the 2 min candles it triggered long after the second 2 min candle with stop below the same candle. This is when trader would get with size immediately ( which would not allow to built if it drops towards 105.00 because size will cause too big of a draw down)
Strategy No. 2 with wide stop below PDC or PDH :
If was drooping towards 105.00 building a long on the way down , but starting with small partial size that trader can calculate according to own risk tolerance if the price went in stop loss territory.
FB 2 min long trigger risk below the 2 min
FB risk reward 1:2
FB 5 min chart
This was the second long entry on break of of 5 min candle high after 3 candles LOWER HIGHS pull back.
FB 5 min take profit area 1:2 R:R
FB eod 5min
Have a great week
@DaChopa
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