*Buy Setup:*
1. *Entry*: Buy at 110,800.0 (breakout above resistance)
2. *Stop Loss*: 110,450.0 (below recent consolidation low)
3. *Take Profit*: 111,500.0 (target based on recent range and volatility)
*Sell Setup (for reference):*
If you were considering a short trade, you'd look for a breakdown below support. Let's assume support is around 108,665.0.
1. *Entry*: Sell at 108,600.0 (breakdown below support)
2. *Stop Loss*: 109,000.0 (above recent resistance or consolidation high)
3. *Take Profit*: 107,500.0 (target based on recent range and volatility)
Key considerations:
- *Risk-reward ratio*: Aim for a ratio of at least 1:2 (risk:reward).
- *Position sizing*: Manage your position size to limit potential losses.
- *Monitor and adjust*: Keep an eye on the trade and adjust your stop loss or take profit as needed.
Do you have any specific questions about stop loss or take profit strategies?
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