Damned if there isn't And I was about to say something clever like make sure you see what the chart is telling you, not what you want to see.
Funny but clever, still ! Trying my best to read these charts ! Currently it looks all good to me. Screened through different charts, This one really stood out for me. But with the overall uncertainty, I wouldn’t be surprised if it breaks ! Risk isn’t on until … It’s turned ON Thanks !
That last candle closes ? That’s what bothering me. Looks like it is heading south. Let’s see. Usually I don’t want High Tight Flags to break down on the higher timeframe …
Monday will tell the story. I'd take a partial position if the stock and the market opened positive. Say 8.50 area with a stop at 8ish.
Where is your entry into the position? Will enter with your full size in this symbol or will adding more size if looks good and the stock market environment is cooperative? Your target is 15$ good but will keep part of your size or will sell all of it?
Didn't enter the stock. Full size but adding more on the way up. I let the market tell me when to get out with stop losses. Or maybe if there is an obvious climax run then I'll sell into strength. Bought some other stuff today, Might buy ARHS @ 8.5 with a sell top @ 8$ Bought ASC TK ADN CEG Hold ANIX BOWL AMPS Sold AMLX TRMD (Shaken out, Stops too tight) In this kind of market it's better to leverage less, Set stops @ levels (Lows) and not trying to squeeze in between. Qullamaggie for example set stops at Low of Day, It squeeze the reward to risk ratio but the market is tough. I risk very little in bear markets, 50bp risk vs 100bp risk in bull markets. As soon as the stock makes a higher low, Then I add some on the pullback, + I Level up my stop. If the stock makes a lower low, Then I'm out. Stopped out. Ideally it's better to wait for the indexes to close higher. Be defensive when they make lower low on a day to day basis. Looks like the indexes might close bullish short term. So it's worth buying stuff showing strength. When indexes close above previous high.