It really depends on what the stock actually does, MK. It is very easy to talk about things, but, not that easy to do them. There is only one way to master taking profits out of the market, and, that is by experience, so, when gaining experience, it is vital to have enough trading capital that will enable you spend the required time in the market, and, this is exactly where most fail. Most want it right now:eek: Patience is a virtue, and, good things come to all who are willing to wait and do what is required to be done. The difference between knowing and not knowing, is, doing. Here is a question that if you answer, will, give you the answer you are looking for. What is the most important thing to learn about for trading effectively? TE
Targets are for archers Timing is for traders It's all about timing. A missed opportunity is better than a losing trade. <---someone more famous than me said this.
Not only do we need to know, but, we also need to be able to do what is required, for, knowing in itself is of no use to anyone if they are unable to do what is required. What if someone said, the simplest thing in the world is making money trading, and, it is because it is so simple that most do not see it as such. Why complicate things that need not be complicated:eek: BLASH or SHABL & SLABL or BHASH OR WTBATFP or WTSATFR & WTSATFBD or WTBATFBO TE
What about? 1. Sell some more with MO 2. Cover the lot with LO or MO 3. Get ready to cover the lot with MO 4. Get the hell out of there as fast as you can with MO TE
OK then Spongebob what will the next candle more than likely be, and, you can draw it anyway you like.