I'm trying an early position here in $ARKK as it reclaims the 30 week MA. You can see my stop on the chart however, I'll likely keep it as long as it does not close under the 30 week MA. Shorter term MA's are pointing up so this looks like a low risk entry area with a well defined stop should it turn back down. Ideas, not trading / investing advice.
Comment:
As I continue to look at this chart it's obvious that ARKK has tested up and down the 30 WMA since March. Hence my stop on a close below the 30 week. Maybe it'll finally take off this time. TBD.
Trade closed: stop reached:
Well, that did not work well... I held like a dummy well past my stop... Just sold @ 109.87. Learn from me on this... honor your initial stop. You set it for a reason. You can always buy it back. Obviously, a lesson I'm struggling with.
Ideas I publish are my own. They are not meant to be investment / trading advice. You are encouraged to do your own due diligence.
I may or may not take any trade published and I am under no obligation to post any action or update to any idea.
I may or may not take any trade published and I am under no obligation to post any action or update to any idea.