NeedMoMoney
Long

Long Term Ascending Channel

TSX:OSB   NORBORD INC
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I'm experimenting with trading long-term channels. You'll notice I'm being conservative with the top of the channel while doing the opposite for the bottom of the channel. Will enter trade Sep 7 with a buy limit of $50. S/L @ 47.18 but I may also exist when the price hits the bottom of the channel. Target I would say around the 55 area.

If you read this let me know your thoughts/comments.
Sep 08
Trade active: Sep 7 buy order filled with average share price (including buy and sell commission) of $49.783.
Long Position indicator updated with avg share price, but the amounts for profit/loss are just random since I have no clue how to work that feature.

Sep 13
Trade closed manually: Protecting profits. I decided to sell today if the price broke 51.83, which looked like support on the 15m and 1h chart. It happened and I submitted a market sell order that was filled avg price 51.77. Not the target I was looking for, but still a profitable trade with 3.9913% profit after trade commissions. I'll keep an eye on this stock, if it reaches near the bottom of the channel and looks like it's reversing I may reenter.

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