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.
Note
Still waiting for beak above Dec. 29 high. If that doesn't occur, no trade.Note
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/
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Cory Mitchell, CMT
Stock and forex trading insights at tradethatswing.com/
Stock and forex trading insights at tradethatswing.com/
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.