Initial target was the supply zone around upper 27s and 28.22 -
needs to reclaim that zone and BUILD above - bearish view is a 4th
wave down. The 20 day is reasonable target just as a
symmetrical abc bounce - that will need to be reclaimed to impulse
up
matsch13 - again trade your play, whatever that is, your plan
isn't Steve's plan or mine.
for TGTX and other trades you have to decide ahead of time how
you are trading the stock. If it's a quick trade and you can day
trade that's one thing. If you are buying some of the trade ideas
like TGTX as a swing trade - then your stops have to be wide enough
in commensurate with that approach and not stop out on
noise
also even for swings - it's best to zoom down to smaller time
frames such as 60 min and 2 hr and look for higher lows as places
for swings. on TGTX on the 60 min time frame there are higher lows
at 25.23 and 25.71 that could be considered as stops.
And of course what makes a market, there are times to be
aggressive with swing trades and other times to sit back and be
pickier if you are expecting weakness in the market etc
Many thanks to you, Matt and Steve! Of course I trade my plan,
and as you said before, every plan is different! I did trade a huge
amount of your trade set ups, even I´m not writing very often about
those good set ups! So your hard work is not for nothing! ;-)
TGTX Updated View
Posted by steve on 7th of Jun 2023 at 02:32 pm
TGTX - Chart Link
TGTX, very good call Steve!
Posted by matsch13 on 7th of Jun 2023 at 02:44 pm
TGTX, very good call Steve! :-) I am in with round about 26.13! Where is your 1st target? 20MA = 28.93?
Initial target was the supply
Posted by steve on 7th of Jun 2023 at 02:46 pm
Initial target was the supply zone around upper 27s and 28.22 - needs to reclaim that zone and BUILD above - bearish view is a 4th wave down. The 20 day is reasonable target just as a symmetrical abc bounce - that will need to be reclaimed to impulse up
Thx, Steve! Took some small
Posted by matsch13 on 7th of Jun 2023 at 03:29 pm
Thx, Steve! Took some small profit at the 20-EMA, which was more or less the beginning of the supply zone at 27.67! :-)
matsch13 - again trade your
Posted by matt on 7th of Jun 2023 at 03:35 pm
matsch13 - again trade your play, whatever that is, your plan isn't Steve's plan or mine.
for TGTX and other trades you have to decide ahead of time how you are trading the stock. If it's a quick trade and you can day trade that's one thing. If you are buying some of the trade ideas like TGTX as a swing trade - then your stops have to be wide enough in commensurate with that approach and not stop out on noise
also even for swings - it's best to zoom down to smaller time frames such as 60 min and 2 hr and look for higher lows as places for swings. on TGTX on the 60 min time frame there are higher lows at 25.23 and 25.71 that could be considered as stops.
And of course what makes a market, there are times to be aggressive with swing trades and other times to sit back and be pickier if you are expecting weakness in the market etc
here's some past posts that my help
https://breakpointtrades.com/blog/post/385351/
https://breakpointtrades.com/blog/post/385467/
Many thanks to you, Matt
Posted by matsch13 on 7th of Jun 2023 at 03:54 pm
Many thanks to you, Matt and Steve! Of course I trade my plan, and as you said before, every plan is different! I did trade a huge amount of your trade set ups, even I´m not writing very often about those good set ups! So your hard work is not for nothing! ;-)
that's awesome! thank you for
Posted by matt on 7th of Jun 2023 at 06:18 pm
that's awesome! thank you for sharing that and following up!