$MEGA Long setup
Buy: 0.04968
Stop level: 0.04648
Take profit: 0.05608
R:R 1:2
39% rally on MEGA in 3 days. Then things calmed down and I started watching for the retrace. 0.04966 was the bottom of the pullback (39% of the leg) and the market has since made a fresh high, so that is the level I care about. Sweep of 0.04966, then a close back above it straight away. That's the whole trigger for me. Taking it from 0.04968 with the stop at 0.04648. If the fresh high at 0.05608 gets tagged, it's a clean 2R.
Buy: 0.04968
Stop level: 0.04648
Take profit: 0.05608
R:R 1:2
39% rally on MEGA in 3 days. Then things calmed down and I started watching for the retrace. 0.04966 was the bottom of the pullback (39% of the leg) and the market has since made a fresh high, so that is the level I care about. Sweep of 0.04966, then a close back above it straight away. That's the whole trigger for me. Taking it from 0.04968 with the stop at 0.04648. If the fresh high at 0.05608 gets tagged, it's a clean 2R.
