David_Jack

Swing trade entry using hammer candlestick

NYSE:CRL   Charles River Laboratories International, Inc
Entry above the hammer as indicated by the
arrow. The price will probably come down for
the next several days before reversing(I am
anticipating a bear trap at around $164). If bulls
begin appearing then it should rise to the order
entry. At this point it will make another
attempt to break all time highs. I will take some
profit here and expect a small rest before
breaking ATH , and eventually reaching target 2.
Comment: Exiting intraday 10% of position at target 1. Plan calls to wait for a retest of the All Time High, however, if it wants to run to final target then let it. At this point I am raising my Stop to $172.18. If I lose on this trade it will be certainly less than 1R.
Comment: Raising stop to $178.60
Trade closed: target reached: Target was hit. Trade completed!