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ETrades1
Feb 23, 2021 5:03 AM

$CECE daily triangle, weekly triangle  Long

CECO Environmental Corp.NASDAQ

Description

I view the daily chart as the ideal buy opportunity for the potential weekly triangle breakout. The way I'm thinking about it, am I willing to risk 5% (stop below 7.70) below the backtest of a now 4x tested trendline for a potentially massive weekly triangle breakout? To me that seems like an attractive offer. The other option is take some/all profit at a retest of the prior highs and given the low risk, the R/R is still quite good. Personally, if I enter the stock, I'll be looking for the weekly breakout, or I'll lose my 5% and move on.
Comments
altinAdam
Dang, there it is! Nice read.
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