In this trade I'm aiming to ride the continuing uptrend to the next swing high.
If I'm right it'll continue through the old high on its way up to the high set back in late April. Stop is set below current swing low as indicated by the bottom of the red box. Take profit is set at next swing high (green box). I'm not confident that this trend will continue beyond that previous high and I'm not interested in predicting the future.
Just ride the current trend to the next likely bump in the road.
If I'm right it'll continue through the old high on its way up to the high set back in late April. Stop is set below current swing low as indicated by the bottom of the red box. Take profit is set at next swing high (green box). I'm not confident that this trend will continue beyond that previous high and I'm not interested in predicting the future.
Just ride the current trend to the next likely bump in the road.
Comment:
Still riding this one. Waiting for this small round of profit taking to end and the resumption of the uptrend to begin again.
Trade closed manually:
Closed early for a small loss. I see no reasonable possibility of it recovering.