HIGH BASE SETUP:
For the last couple weeks BA has been basing and consolidating at the 9 day and on Friday it suhed higher and broke out. The overall market is down today and this is still holding up pretty good. My entry point was determined when BA traded above previous highs and closed above the highs Friday. I didn't want to get in Friday because I wanted to see how today played out. Today's price action solidified my entry.
I wanna see this run up to that upward yellow trend line by early next week, and then pull back into the apex of the trade. If this continues higher and doesn't come back down into the apex, I'll just close the entire combo and take profits.
If this falls back down below 170, I'll be positioned for max loss and risking a little under 2% of my portfolio.
I'll update this in the coming days to see where we're at.
For the last couple weeks BA has been basing and consolidating at the 9 day and on Friday it suhed higher and broke out. The overall market is down today and this is still holding up pretty good. My entry point was determined when BA traded above previous highs and closed above the highs Friday. I didn't want to get in Friday because I wanted to see how today played out. Today's price action solidified my entry.
I wanna see this run up to that upward yellow trend line by early next week, and then pull back into the apex of the trade. If this continues higher and doesn't come back down into the apex, I'll just close the entire combo and take profits.
If this falls back down below 170, I'll be positioned for max loss and risking a little under 2% of my portfolio.
I'll update this in the coming days to see where we're at.
Trade active
Comment:
One more day left. I don't think it has enough to get above 190 today or tomorrow. Just gotta watch it.