NAK1987

CGA, Watch for a base or continued run

NYSE:CGA   China Green Agriculture, Inc
This was one that I originally did not post and I could have traded it much better. Still was a very profitable trade but I made the mistake of setting a limit target and was out at $9.99. Instead of adjusting the stop based on 10, 21 EMA's, which would have been much more profitable .

Either way, I have been waiting for todays pullback to watch closer what happens next.

Best case scenario:

What I would like to see the most and what would give me a great second entry opportunity is for the pullback and selling volume to be somewhat limited and see this from a base at this time . That should give CGA some time to digest the great run it has and allow weaker holders to take profits . If a successful base forms we should see some selling volume , initially larger , contract to very low volume candles....ideally with multiple contractions up and down . At some point overhead supply will be gone and I will enter on the turn up . This is an ideal situation that would allow CGA to have a natural reaction

Not tradeable scenarios for my style (2)

1) CGA continues to make huge gains without a digestion period leading to eventual capitulation to the down side losing more than 50% ish .

or

2) CGA continues to sell off and forms a very deep base and lots of potential overhead supply issues.

For me both of the later two scenario's are not tradeable for me in the near future , hoping for a base .
Lets see how it shapes up . :)

艾力克~
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