Liquidity is sitting above $1.922 on $FOLKS . Price is $1.90, up 13%. I am watching the 4H chart.
The EMA20 is at $1.866, EMA50 at $1.828, and EMA200 at $1.702. All are moving up. The higher timeframe trend is bullish for me.
My plan is a long entry if price stays above $1.90. I believe buyers will push to grab the liquidity at the recent high.
I will set my stop loss at $1.828, below the EMA50. My first take profit is $1.922. My second take profit is $1.944. Entry to TP2 is $0.044. Entry to SL is $0.072. The math gives me less than 1:2, so I will adjust my entry to $1.87 to get exactly 1:2. SL $1.828, TP1 $1.90, TP2 $1.94.
If price drops below $1.828, I will not take this trade.
The EMA20 is at $1.866, EMA50 at $1.828, and EMA200 at $1.702. All are moving up. The higher timeframe trend is bullish for me.
My plan is a long entry if price stays above $1.90. I believe buyers will push to grab the liquidity at the recent high.
I will set my stop loss at $1.828, below the EMA50. My first take profit is $1.922. My second take profit is $1.944. Entry to TP2 is $0.044. Entry to SL is $0.072. The math gives me less than 1:2, so I will adjust my entry to $1.87 to get exactly 1:2. SL $1.828, TP1 $1.90, TP2 $1.94.
If price drops below $1.828, I will not take this trade.