One week chart shows an accumulation phase with S/R @ 7.83 and 9.91 respectively. The daily chart shows strong resistance @ 9.82. Based on previous entries at my suggested buy point the swing appears to take around eight trading days.
Using my Buy, Stop, and Sell points. This setup has a risk percentage of 3. With a stock reward per share of 2.05 and a R:R of 1.9.
That said, I had a limit buy for $7.86 and got in this morning @ $7.70. However, I quickly got stopped out @ 7.66. Maybe I should have set my activation price closer to the my actually stop price. Or, maybe my stop price was a little too tight. Regardless, I stuck to my plan and I can live with the results. On to the next trade setup :)
Using my Buy, Stop, and Sell points. This setup has a risk percentage of 3. With a stock reward per share of 2.05 and a R:R of 1.9.
That said, I had a limit buy for $7.86 and got in this morning @ $7.70. However, I quickly got stopped out @ 7.66. Maybe I should have set my activation price closer to the my actually stop price. Or, maybe my stop price was a little too tight. Regardless, I stuck to my plan and I can live with the results. On to the next trade setup :)