Entry: when price clears 178.36 Volume: with daily volume greater than 6.35M Target: 206 area Stop: Depending on your risk tolerance; 169.17 gets you 3/1 Risk/Reward.
This swing trade idea is not trade advice and is strictly based on my ideas and technical analysis. No due diligence or fundamental analysis was performed while evaluating this trade idea. Do not take this trade based on my idea, do not follow anyone blindly, do your own analysis and due diligence. I am not a professional trader.
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Revised target: 200.50 Area
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If price drops lower than 61.8%, I'll cancel the idea.
Order cancelled
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Pullback too deep, need to wait for another opportunity.
hello! What can you say just now? Did you see the chart today? what is your opinion for the closer future or next week?
tradepatiently
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@Pastig, honestly I don't try to predict the market, I just play what I see on the chart. For me, I'm waiting for my long entry opportunity as the stock crosses over 178.36 with over 6.35M. That will be my confirmation that the stock wants to go higher. A lot of people prefer to buy pullbacks so they don't miss out on part of the run, but for me that has never worked well. This stock for example, those that bought on June 8th or 9th bought the dip retracement with very low volume and are now near stopping out. In the last 2 days, volume has picked up as price fell meaning people are selling. If the stock pulls back to 61.80% or less on the fib retracement, I think that's a healthy pullback. If it pulls back further than that, I'd probably cancel this idea and wait for a better setup. Do you already own it or are you looking to buy it?
Pastig
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@cphelpsone, ohh I understand. :( I have bought at 159.48 with 5x cfd. I hope ANET will pull up soon.
tradepatiently
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@Pastig, I don't know much about CFD's but I wish you luck.