Everyone has their own way of looking at the market, and different tolerances of risk, so I don't mean to suggest trades, but just give ideas, and show some of the trading decisions I make, if it is of any help to anyone. I know I benefit from what others post here.
However, make your own decisions. Develop your own confidence...
Here's another idea. I went long on this break out, once I saw it establishing itself above the last high. I added a very small position, with SL below the H4 close of the flag pole of that flag formation.
So, rather than view the breakout on daily, with a 300 pip SL, I choose to look at this a little shorter term. I figure it should be good for a nice little trade to 186.35, but we'll see. If it pulls back and reverses I simply add to my position. If it stops me out, I didn't risk much at all, so no worries...
However, make your own decisions. Develop your own confidence...
Here's another idea. I went long on this break out, once I saw it establishing itself above the last high. I added a very small position, with SL below the H4 close of the flag pole of that flag formation.
So, rather than view the breakout on daily, with a 300 pip SL, I choose to look at this a little shorter term. I figure it should be good for a nice little trade to 186.35, but we'll see. If it pulls back and reverses I simply add to my position. If it stops me out, I didn't risk much at all, so no worries...