There was an ideal breakout setup on the 1hr time frame. We also considered a pullback to the KS but there was no multi-time frame resistance at that level.
In the chart below, the vertical line represents the email alert time. Our breakout entry was 434.125, initial stop 446.573 (on entry, stop was lowered to 443) and our preserve mode 421.063. In breakout trades we only select trades that give us at minimum a 1:1 reward/risk, in this case our reward/risk was 1:1.
See chart below for setup…
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