Low risk setup for MRK

Why is this setup good?

• Strong contextual uptrend
  
• Price continues moving in the direction of main trend since it bounced at support EMA(100) and EMA(50)
  
• Momentum building on MACD 12-26, MACD signal line crossed the 0 line
  
• First reaction (contraction) since MACD crossover
  
• Trigger Candle testing EMA 3, 6 and 18
  
• Low Setup Risk - just 1.29% in risk
  

Entry rules:

• Buy Stop order or Manual Buy at 79.58 at the next interval(candle) open
  
• Cancel the order at the end of the day if 79.58 does not get triggered
  
• Stop Loss (S/L) level at 75.26 (adjust position size accordingly, don't risk more than 3% for your current account balance)
  

Trade management
-Move S/L to break-even when price CLOSES above 76.70

Exit rules:
-Target 79.58 (Risk-Revard ratio ~3.41)

Kommentera:

- Buy Stop order executed at 79.58
- Interval bar closed close to S/L. Either it will reverse or hit the S/L. Let's see.

Trade stängt: Stopp nått