Trade plan
Trigger
If the price breaks through and closes above the resistance trend-line. I have a buy trigger.
Confirmation
If the TFG share price trades higher then the high of the trigger candle
Entry method
Buy stop order placed higher than than the high of the trigger candle
Exit
Target is the close of the gap or stop loss at around 116
Stop
Around the R65 level.
Perfect trade checklist
[] Did I get a signal (Break out of the range above)
[] Did I wait for confirmation (Trades higher than the high of the break handle)
[] Did I set my position correctly (Risk 2% of the my portfolio)
[] Did I set my stop loss correctly (below the low of the forth wave)
[] Did I monitor the trade (Check the chart daily and adjust stop accordingly)
[] Did I exit as per the my preset rules (Stop loss or target)
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