Instructor's Response:
You are correct that we only want to look for buying opportunities in an uptrend.
As you suggest, we would want to wait for a pullback to support before placing our buy. Take a look at the chart below and note the area labeled Buy Zone...that would be the optimum entry area on this chart. As the old expression goes, in an uptrend a trader would want to buy on "dips" (the pulback or dip down to support) and in a downtrend a trader would sell on "rallies" (the pullback or rally up to resistance).
Also, based on where the stops and limits were placed on this trade, it is set up for an approximately 1:4 Risk Reward Ratio...well done.
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