The chart had a nice setup today. The breakout that happened is having a long tail.
Long-tail resembles.
1. High Demand
2. Shakeout of weak holders.
3. A Bullish candle.
4. Easy SL below the long tail.
Entry should be taken on completion of the breakout candle.
SL should be below the breakout candle (as it has a long tail and weak holders were already shaken out.
Target depends on your risk appetite.
Please lookout for this kind of setup and trade accordingly.
*For Educational Purpose Only*
Long-tail resembles.
1. High Demand
2. Shakeout of weak holders.
3. A Bullish candle.
4. Easy SL below the long tail.
Entry should be taken on completion of the breakout candle.
SL should be below the breakout candle (as it has a long tail and weak holders were already shaken out.
Target depends on your risk appetite.
Please lookout for this kind of setup and trade accordingly.
*For Educational Purpose Only*