SpartanTrades

Breakout Pending on ALKS. Long !

Long
NASDAQ:ALKS   Alkermes plc
ALKS is about to breakout.
I will be long some before the actual break occurs.
Once break occurs I am expecting a run to at least 30.0.
Comment: When you see pending breakouts like this one. There are two ways to participate.
1) Take a position before the break occurs
2) Take a position after the break occurs on a pullback
I prefer 1, there is no guarantee you will get a pullback on 2, if you do get one it will be quick. Also if you get into the position prior to the break, you are getting it before the break is apparent, you are taking a trade before the FOMO traders step in.

Comments

So we are waiting for a break before entering right?
Reply
SpartanTrades TheSignalyst
@TheSignalyst, I enter before the break happens.
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