The price bounced from the support zone formed by SMA50 and support level. MACD and RSI confirmed the price reversal. It gives us a new buying opportunity. Stop orders should be placed below the local swing low. The profit target is key resistance. Risk per trade must be no more than 5% of the capital.
The previous trade, which we opened using the same setup, gives us a good profit. It is possible to move stop orders to the breakeven and fix at least the part of the profit.
Disclaimer! This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.