Long-term uptrend and transitioning back to upside after extended pullback.
Reward:Risk is close to 4:1 based on a conservative target. Can also use ATR Stops as a trailing stop loss. When price closes below line, place stop loss just below the low of that day.
Reward:Risk is close to 4:1 based on a conservative target. Can also use ATR Stops as a trailing stop loss. When price closes below line, place stop loss just below the low of that day.
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Still waiting for beak above Dec. 29 high. If that doesn't occur, no trade.
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Because the trade didn't trigger at the designated area, and then dropped, the entry point will likely drop also since we may get a consolidation a little lower. As long as this pullback consolidates above $33, watch for a new consolidation and upside breakout. That is the entry.
Cory Mitchell, CMT
Stock and forex trading insights at tradethatswing.com/
Stock and forex trading insights at tradethatswing.com/