Trade plan
I am waiting for the break to the downside on FSR share price. If the price breaks and close below the support trend line I will get my trigger. And if if trades low than the low of the break candle I am looking to be short.
Trigger
If/when the price breaks and closes below the support trend line I will place a sell stop order below the low of the break candle.
Confirmation
If the price trades below the trigger candle is a confirmation. When the trade is triggered I will place a sell stop order below the low of the trigger candle
My stop loss around the R42 levels or 2x ATR whichever is more logical at trigger
Perfect trade
[] Did I get the trigger (price breaking the trend line)
[] Did I get confirmation (price trading lower than low of the break candle)
[] Did I enter as per plan (Sell stop order)
[] Did I set my stop loss
[] Did I set my position size
[] Did I monitor the trade well
[] Did I exit as per the plan (Target or Stop)