I don't have a trade in this one currently, but since it is a rounded bottom I will wait for the next pullback. This has nothing to do with trying to get a better price. Rather, I want to see the pullback stay above the prior consolidation/swing low and then move higher. This helps confirm the price is still in a rounded bottom continuation pattern and likely to head higher.
Also, are due out August 12. No point taking a trade right before. I'd rather wait for and see what kind of setup we get. NO TRADE YET.
Since this stock has been exceptionally strong, I will utilize a trailing stop loss (based on ATR, indicator shown on chart). I utilize the CLOSING price method discussed in this article: https://vantagepointtrading.com/using-th...
At this point, basically, the price has to stabilize (consolidate) and then move above the consolidation high to show the price is starting to move back up.