Weekly STOCH RSI triggered my interest in this one. Were siting nicely on top of the Weekly 200ma.
The Daily has collected the MA;s and looking perky. Still have some room in the MACD for this leg.
I'm treating the trade as a simple 382 - 618 trade for my RR from recent pull back.
Because of this i will break the norm and manage the trade in thirds. Usual 1/3 Trailing daily. 2nd trailing weekly. Final third taken off at 4.78.
Bit of a change from the usual style. Markets are tricky at present.
Lastly i may be getting into this one a bit early. May be a larger C leg to come.
The Daily has collected the MA;s and looking perky. Still have some room in the MACD for this leg.
I'm treating the trade as a simple 382 - 618 trade for my RR from recent pull back.
Because of this i will break the norm and manage the trade in thirds. Usual 1/3 Trailing daily. 2nd trailing weekly. Final third taken off at 4.78.
Bit of a change from the usual style. Markets are tricky at present.
Lastly i may be getting into this one a bit early. May be a larger C leg to come.
Comment:
Trade closed: target reached:
Closed out first two thirds, 1st taken by stop loss on green arrow. Second sold over target, bust with work.