This is a very classic setup on SQ. Buying off daily 200 on a double bottom. And in the last 3 bars it was a perfect breakout. Nice close today. Nice increasing volume on the long bearish dip in Oct 4th meaning people are trapped. Nice 1.4 risk/reward ratio.
But the experienced trader inside me is yelling and saying I should buy the stop of this classic setup. What do you think I will do :wink:?
But the experienced trader inside me is yelling and saying I should buy the stop of this classic setup. What do you think I will do :wink:?
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I will give it two more days and if we fail to break daily 50 and consolidate nicely, I will try to buy the flush below my white line.