A simple high probability setup (R/R: 5.5+)

This is an attempt to use Andrews A/R techniques (reverse pitchforks or median lines) with a horizontal structural stop. The next green parallel is used as a runaway target.

Comentarios:

Our entry level is now past the time-frame where price was expected being able to reach it. With the target still valid I would like to enter upon a second touch of the lower sloped parallel instead. The reason I need two touches (no touches has occurred yet) is so that I can place my stop below the first touch, and because the lines are not 100 % accurate and I wish to know how much the price will violate this parallel on the first touch.

Comentarios:

Since price got pushed down so hard by news on the Korean missile launch, I managed to get it right above the original entry level and exit once we came back to the lowest green parallel.

Now however, the proper setup is developing and I am looking to enter at a new orange parallel.

Orden cancelada:

I discarded the idea because of the stop size upon touch (and look how price went much lower).