Hey Folks. I got my eye on a possible trade setup for Fantom (FTM) on the Day Chart. 

On the chart above I've listed my current plan for Fantom, I plan to enter the trade at the Golden Pocket using Fib Retracement Tool at or near $0.2946 with 5% of my Trading Account, and my Stop Loss will be a daily candle close below Support. 

Before Entering into a Long Position, I would like to see a Bounce off the Golden Pocket, and remain in the Bull Flag, giving me a nice setup and a healthy Risk/ Reward setup. My Target price is around $0.52 with a possible %75 Gain, and my Stop Loss around %5 below or Daily Candle close below support. 

Reward Percentage

Risk percentage

2 Conformations

Conformation 1 - Bounce off Golden Pocket

Conformation 2 - Bull Flag

Stop Loss - Daily Candle Close below Support

I will take Profits at my Target Price, and depending on price action I may close entire trade, or let the rest ride for long as possible, while moving my Stop Loss as Price Action rises, insuring profits. But Markets can change at anytime, and depending on price action, I may revaluate my position. Nothing is set in stone. For no trader can predict the markets. The best that traders can do is to determine the probabilities in which direction it will go. 

Note: This trade is a Swing Trade. Anywhere from a couple days to a week or two, possibly more.  

It is important to note, the trade may not materialize. Not Financial Advice

Please Take Note: Price Action on Day Charts can take some time to play out. Anywhere from a couple days to couple of weeks.