Top 2 charts are Daily. Bottom chart is hourly.
I see:
- 3 drives to a bottom
- Hitting support from previous swing low
- Very low Stochastics
It's not really a very strong setup, so this is higher risk than usual, and we're in way early relative to my rules. But the Risk:Reward is fantastic.
Entry: 2.450
Stop: 2.350
Target: 2.935 (50% Retracement)
Risk: 2.35 - 2.45 = .10 * $2500/pt = $250.00
Reward: 2.935-2.450 = .485 * $2500/pt = $1212.50
R:R = 1:4.85
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