This looks like it could be a nice bounce play off the trend line that has formed. So far it is holding trend line. I would not FOMO into this, but wait for a nice patient fill just above the trend line. Have a tight stop in place incase we break below trend. If we close a daily below the trend, you could probably enter a short in at the trend line.
Comment:
Position filled! I would expect a nice bounce play here. This long term trend line is strong. Strong like bull.
Trade closed: stop reached:
GUYS! I am really sorry, I didn't spend much time thinking about this stop loss placement. We took a 6% hit on this trade because I had my buy and stops in poor placement. Quite often makers will push the price down below a trend line to pick up some cheap shares. This is actually the best place to put your long fills at. Next time we will put our buys in AT or BELOW a trend line, in order to get the best possible fill price. There is a higher chance you may miss getting filled, but atleast you can't lose money if you miss out on a trade. There are always more opportunities!
If you are not in this trade yet, right now would be an absolute perfect buy in time so long as we continue to hold trend line. Place stop well below trend line to avoid a dump. Happy trading!
If you are not in this trade yet, right now would be an absolute perfect buy in time so long as we continue to hold trend line. Place stop well below trend line to avoid a dump. Happy trading!
Comment:
This is breaking trend line. Be careful if you are going long mates!
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The fakeout breakdown! Back above trend line.. This may bounce and head up to previous resistance.