Use this as an idea to develop your own trade
Main items we see on the Daily Chart:
a)The price is against a Resistance Zone that was tested multiple times on the past
b)Our Entry zone is positioned on a zone in which the rejection to the resistance zone will be confirmed
c)Our Stop is positioned above the resistance level also giving enough distance to fake outs to that level
d)Our Take Profit is positioned on the next Support Zone
e)Using Elliot Wave Theory we consider that a 5th wave is remaining and we plan to catch that impulse.
We think this setup gives an intereseting Risk Reward Ratio
Main items we see on the Daily Chart:
a)The price is against a Resistance Zone that was tested multiple times on the past
b)Our Entry zone is positioned on a zone in which the rejection to the resistance zone will be confirmed
c)Our Stop is positioned above the resistance level also giving enough distance to fake outs to that level
d)Our Take Profit is positioned on the next Support Zone
e)Using Elliot Wave Theory we consider that a 5th wave is remaining and we plan to catch that impulse.
We think this setup gives an intereseting Risk Reward Ratio