SETUPS
Short-term Setup
Entered Price: $12.119
Target 1: $12.3314 $1.83%
R:R: 2.52
Target 2: $12.6211 4.22%
R:R: 5.81
Stop Loss: $12.0219 0.73%
Mid-term Setup
Potential Intermediate Wave 2 completed. With Intermediate Wave 3 coming in.
Play on the breakout.
Targets: $12.6501
Stop Loss will be on the previous candle low.
Beware of Bull Trap
Let the bar close above the breakout line, re-test the line with a rejection wick candle.
Indicating bears tried to push the price down but failed.
Without Risk there can be no possibility of Reward.
UPDATE
Target 1 Reached
Closed positions at Target 1 for a 1.83% gain.
It looks like a potential reversal with the long wicks at the top.
Could target Retracement levels before it reaches the complete Wave 5.