I bought my positions today
January 4, 2024
Reasons:
1. Low-risk entry point
2. Confirmed stage 2 uptrend
3. Has gone through four majority line of supplies
4. Offers multiple entries at a cheat area and a handle
5. The base has VCP characteristics
6. High relative strength
6. Volume dries up as less supply coming to the market
7. Huge volume on the breakout
Flaws:
1. The market is still in a hard-penny environment with only 32% of total stocks above the 200-day MA
2. The index is moving higher but there are still less stocks setting up.
A classic cup and handle formation with cheat pivot entry. I like to see some follow through action from now.
January 4, 2024
Reasons:
1. Low-risk entry point
2. Confirmed stage 2 uptrend
3. Has gone through four majority line of supplies
4. Offers multiple entries at a cheat area and a handle
5. The base has VCP characteristics
6. High relative strength
6. Volume dries up as less supply coming to the market
7. Huge volume on the breakout
Flaws:
1. The market is still in a hard-penny environment with only 32% of total stocks above the 200-day MA
2. The index is moving higher but there are still less stocks setting up.
A classic cup and handle formation with cheat pivot entry. I like to see some follow through action from now.
Trade active:
I sold most of my position today at 10% profit into strength, letting the remaining position to freeroll.
Trade active:
I sold another position into strength today at +15% profit on half.
Trade closed: target reached:
I sold my last position at +20% profit today.
Trade closed: 15/2/2024
Trade closed: 15/2/2024
