Reasons for trade
1.Lower end of channel
2.Previous resistance may act as support.
3.50 EMA that the stock usually retraces
4.Stockasticks oversold.
R/R is almost 3-1 aim for 119 with SL at 98.5
will adjust accordingly with the open.Price may move lower to 100-101 but its still ok to open here for me.No holding through earnings.
1.Lower end of channel
2.Previous resistance may act as support.
3.50 EMA that the stock usually retraces
4.Stockasticks oversold.
R/R is almost 3-1 aim for 119 with SL at 98.5
will adjust accordingly with the open.Price may move lower to 100-101 but its still ok to open here for me.No holding through earnings.
Trade active
Comment:
forgot to point out also that this level was the lowest Bollinger as well as 61.8 fibbo.
Trade active:
price moving lower still expect a test of 99-100 and tland then up
Trade closed: stop reached:
Got stopped out with a small gap.Well thats trading.Still i think this will be a good long soon but from here we wait for the market to correct l.