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Daily // 4H // 1H // 30m // 15m


get context for the set-up

Practically a range on the daily. Price with momentum to retest the resistance area. On the 1H, uptrend clearly defined with a Fibonacci channel and price just bounced off the 0.236 level where it has done a couple of times previously.


TREND on entry timeframe determined by SMA if subjective (✓)

IMPULSE registering ADX>25 (✓) ADX40

COIL structure clear formation relative to prior impulse (✓)

Continuation/Correction/Coil Structure

Flag // Rectangle // Pennant // Wedge // Triangle // Diamond

Fibonacci 50%–61.8% // S&R Level // Trend Line // Moving Average

ABC // ABCDE // Extended Combo (Simple)


Entry @ Break of Structure // Area of Value + Candlesticks

Stop Loss @ +1ATR away from last wick // SMA as guide (Channel bottom line)

Take Profit @ Length of Prior Impulse // Next Area of Value

1% capital risked for potentially 2R

Entry: 53.6 | Stop loss: 52.4 (-120 points) | Take Profit: 56 (+240 points)



If price breaks out favourably, risk halved

If two-thirds of anticipated impulse, shift to break even

If breakout + strong momentum + space to run, extend take profit and use trailing stop.



Stop Loss

Manual. Reason:

Trailing Stop

Take Profit

Remarks: Followed the plan and the trend, nothing much can be done here. Except, would you have taken the trade if not for the channel bounce? (which was not really part of the strategy). A coil hasn’t really formed…