BLPD has just reclaimed the 618 RT. The 618 should now provide support. If price can hold that level the 786 and 886 become magnets for price.
Entries can be above the box for a breakout play. If price pulls back from the box before breaking out again I will look for pull back entry from the lower targets
A close below the box is my stop on a breakout. Stops on a pull back entry would be below the most recent pivot low. Best if price can hold above the 618 and the trendline.
liAdditional Info:
I am an intraday scalper and short term swing trader of stocks & Futures using options and equity.
I focus on high volume momentum stocks in strong uptrends.
My time frame is between 5minutes to 5 days on most trades.
I scale into positions and scale out of positions as my targets are hit.
I always trail my stops after T1 is hit to reduce risk and lock in gains.
If my post is on a Weekly/Daily/240M chart the idea is a swing trade.
If my post is on a 60M chart or lower the idea is a day trade.
Day trades can turn into swing trades if the stock is strong.
All trades should be supported by market direction.
Treat my posts as trade ideas and not signals.
Traders must trade using their own back tested trade plan and rules.
Traders must plan risk first and profits second.
Happy Trading!ne I have drawn.
Entries can be above the box for a breakout play. If price pulls back from the box before breaking out again I will look for pull back entry from the lower targets
A close below the box is my stop on a breakout. Stops on a pull back entry would be below the most recent pivot low. Best if price can hold above the 618 and the trendline.
liAdditional Info:
I am an intraday scalper and short term swing trader of stocks & Futures using options and equity.
I focus on high volume momentum stocks in strong uptrends.
My time frame is between 5minutes to 5 days on most trades.
I scale into positions and scale out of positions as my targets are hit.
I always trail my stops after T1 is hit to reduce risk and lock in gains.
If my post is on a Weekly/Daily/240M chart the idea is a swing trade.
If my post is on a 60M chart or lower the idea is a day trade.
Day trades can turn into swing trades if the stock is strong.
All trades should be supported by market direction.
Treat my posts as trade ideas and not signals.
Traders must trade using their own back tested trade plan and rules.
Traders must plan risk first and profits second.
Happy Trading!ne I have drawn.
Comment:
Just realized it should read. BLDP
Comment:
No quick pop for easy money on this one. Will have to be patient. Price may need to consolidate some more.
Comment:
Good price action today. Came back and tested the breakout point at the 382 and bounced right away. Entry at the breakout point would have been ideal but one can still enter on a break of the recent high.
Comment:
Breaking out.