NKTR ascending triangle setup

Discussion in 'Stocks' started by ManhattanTrader, Feb 7, 2008.

  1. been following this guy's setups. he seems to be very good. trendline has been broken yesterday and a trade placed

    NKTR ascending triangle

    Short 400 at $6.93. ($2772)

    Initial target $6.25. (GAIN $272) If broken add 200 shares

    Target $5.71 (GAIN w/out scaling in: $488)

    Initial stop at $7.20 (LOSS $108)

    Initial R/R: 2.5:1 (initial target and initial stop)
  2. trade is completed. not bad for 30 minutes of work

    Net profit: $268.
    Amount risked: $112
    R/R: 2.39:1
    Days in trade (market days): 8
    Time comitted to trade: 30 minutes.
    20 minutes identifying tradability, risk/reward, targets, s/r.
    10 minutes monitoring progress and news.