(Bull Divergence) Open Buy after price closed above channel.
(Bull Divergence) Open Buy after price closed above channel.
Form my assumptions and experiences after price created bullish divergences signal there is a potential that price will move higher. In order to place open position we need to do 3 important things.
1. Identify types of Divergences.
2. Draw the channel to identify the proper entry price.
3. Choose the proper Risk: Reward which I prefer 1:2
1. Bullish Divergence (I will open buy position).
2. I will open the position only if the price closing above the channel I have drawn earlier. @ 79.10
3. I will put my stop loss under the recent lowest plus 5-10 pips. @78.70 and will put my TP @79.90
Form my assumptions and experiences after price created bullish divergences signal there is a potential that price will move higher. In order to place open position we need to do 3 important things.
1. Identify types of Divergences.
2. Draw the channel to identify the proper entry price.
3. Choose the proper Risk: Reward which I prefer 1:2
1. Bullish Divergence (I will open buy position).
2. I will open the position only if the price closing above the channel I have drawn earlier. @ 79.10
3. I will put my stop loss under the recent lowest plus 5-10 pips. @78.70 and will put my TP @79.90