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maschera
Sep 11, 2020 12:47 PM

MDT - 5.27% Potential Profit - Corridor Breakout Long

Medtronic plc.NYSE

Description

Keeping the Stop Loss at circa -1% in order to preserve capital. All trades have an elevated degree of risk this week. The market can turn anytime. This doesn't mean that we need to stop trading.

Corridor broken out after a 3-month correction followed by a promising 3-month bull-run. Indicators are obviously not on our side, since we are playing the bounce.

- 3-month Uptrend
- RSI + Stoch below 50 (!)
- MACD below Signal (!)

Target Entry $104.90
Target Stop Loss $103.80
Target Exit $110.41

About me
- August P/L: +203.83% | Wins 85.19% | No Trades without Analysis
- Note that I tend to adjust stop losses in order to secure profits early and preserve capital. This means that the target price is going to be achieved as long as there are no strong pullbacks that trigger my new adjusted stop loss.

Trade closed: target reached

+3.22% profit
Comments
BakiShirzadi
Nice analysis
Saeed966
Great
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