Matic has shown strong momentum gaining another 8% today breaking down her the resistance trend line we pointed out in yesterday’s video. Now the price has gone up a distance equal to the distance between the entry price and the stop loss price. The rule is, but when this happens, you raise your stop loss to the entry price. Now if the trade reverses and starts going against you, then at least you break even. Your new stop loss will exit you with no gain and no loss.
So, raise your stop loss to about $2.7 or where you entered. Cheers.
Comment
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OK. Stop loss was hit. We are now in a no-trade zone. We wait for a reversal signal so that we can make a new entry and set a stop loss below the swing low. Keep on watching.
Can you please give us your feedback on Sea Limited (SE) stock? And do you think Activision Blizzard (ATVI) fill the gap soon?
TechNerdOmar
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@Sokary12, alright but send me on PM rather than comment here. Thanks.
MJ-Account
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Great call brother. Do you think it is still a good time to enter this trade ? I didn't think it will run that much
TechNerdOmar
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@MJ-Account, Good question. If you want to enter now, then you need to wait for a swing low, a reversal sign. Then, your stop loss will be clear. Right now, the nearest swing low is 15% below and you don't have a clear target upwards, plus the last two candles are bearish on the 4-hour as in the chart below. So wait until we see a swing low.
MJ-Account
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@TechNerdOmar, Thank you so much bro. It's appreciated !!!