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Dem456
Feb 16, 2018 3:56 PM

Bearish Crab Long

Coca-Cola Company (The)NYSE

Description

KO, Set buy limit order with other cancels other for target/stop, still learning. It opened higher today but the bears were able to bring it back down again which made it a filled green candle.

Buy Order: 43.50
Target: 45.50
Stop: 42.50
Time Frame: March 12th

Comment

In the trade, lets see what happens the next few days

Comment

Its fighting to stay within my range, can it pull through?

Comment

Its getting close to the target, if I was playing it safe I would sell a portion or honestly the whole set today to lock in profits since it was bouncing around a bit. With that noted lets see how the next few market days ride out for this one.

Trade closed: target reached

My time frame has ended but I got close enough to my target so Im happy with the results.
Comments
ChrisLan
I like it. How did you determine the buy and sell range?
Dem456
@ChrisLan, Thanks! I was using the harmonic pattern and determined that the fib retracement from the A to B leg would stop around my buy order and it seems to have done so. The next question is can it sustain that support level, only time will tell.
Dem456
@Dem456, Oh the Sell was also determined by just seeing this pattern before and thinking well since the candle I started on was a filled green candle,that means it has a push to reach that level again so i set it there to match that starting candle.
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