LTCUSD 1D RANGE SHORT BREAKOUT TRADE

While making this post price broke out of range bottom
Range bottom is at 133.20
Daily breakout candle open was at 135.50
Daily ATR is 8.66
1H chart found range levels

Range Trade Rules
Daily candle did not close yet but broke out of range bottom
Breakout candle low was greater than 1 ATR so special entry rules now
Breakout candle open - 1 ATR = Sell Limit Order
135.50 - 8.66 = 126.84 Sell Limit Order which was hit

Further money mgmt of trade in update followup

Kommentera:

I have gone to a 4H chart to watch this trade
Money mangement values are taken from the Daily chart
SL = 1.5 x Daily ATR
TP = 1 x Daily ATR

Kommentera:

1st TP HIT
2nd trade SL adjusted to breakeven
2nd trade no TP let profit run

Kommentera:

When price closes below this support level
I will move 2nd trade SL to 1st TP level