SPU - Chart Link - just like any other
intraday trade..one would look for a logical exit point which is
illustrated below. Since the buy entry was shown on a 5 minute
chart one should remain consistent when looking for exits. The exit
shows a small rising wedge with slight divergence. This
concept would apply to ALL such intraday trades..one should look
for OBJECTIVE entries and exits. Also take note of the 20 day MA on
the daily chart.
If you think it's worth holding longer (at least some)
then determine a stop that corresponds to you risk tolerance.
Notice the MA's below for additional guides.
Lastly, if one would have had this setup on the DAILY chart
coming into today...the long trigger would have been in the low 6's
with the 20 day MA a realistic initial target..then raise stop to
50% of today's range IF you want to swing some.
SPU 5 Comments
Posted by steve on 29th of Aug 2016 at 01:24 pm
SPU - Chart Link - just like any other intraday trade..one would look for a logical exit point which is illustrated below. Since the buy entry was shown on a 5 minute chart one should remain consistent when looking for exits. The exit shows a small rising wedge with slight divergence. This concept would apply to ALL such intraday trades..one should look for OBJECTIVE entries and exits. Also take note of the 20 day MA on the daily chart.
If you think it's worth holding longer (at least some) then determine a stop that corresponds to you risk tolerance. Notice the MA's below for additional guides.
Lastly, if one would have had this setup on the DAILY chart coming into today...the long trigger would have been in the low 6's with the 20 day MA a realistic initial target..then raise stop to 50% of today's range IF you want to swing some.
Hopefully that addresses your question Jose.
SPU going again after forming
Posted by steve on 29th of Aug 2016 at 02:17 pm
SPU going again after forming a bull flag intraday
Yes thanks Steves.
Posted by cuqui69 on 29th of Aug 2016 at 02:02 pm
Yes thanks Steves.