Bullish Setup on TLRY, we are ready to get high.Today we have a bullish setup on TLRY to share with you. We will be taking this setup using 1% of our capital, and we aim to make 4% on this setup. Of course, we can have a bad trip on this one... However, the risk-reward ratio is a key aspect of our strategy. Generally speaking, we have a win rate of 50% and an average risk-reward ratio of 2 (all you need to make money in the long term)
Let's start with the view:
-The price has been trending lower since February 2021. Now we are observing a possible change in trend, and we want to take advantage of this probable situation.
-As you can see on the chart from May, we have been observing a sequence of higher highs, and higher lows + the price broke a key resistance zone (currently, we are observing a retest of that)
-Based on all the previous items, we have defined but stop orders on the breakout of the current correction and stop orders below the structure. The target we will be aiming at is 29.5 with a protective level at 24.00 (there we will move our stop loss to break-even)
If the price doesn't execute our setup and keeps going lower, we will cancel the setup. And if the price reaches our entry-level and our stop loss is executed. That's trading; we will face a -1% loss.
Thanks for reading!
