General thoughts:
- There should be some energy left for at least another wave up (volume, resistance / support)
- It will face some difficulties with breaking the all-time high, so some consolidation after it has touched would seem appropriate. I already bought at 31.5, looking to take most of the profit inside the yellow box.
Stop loss:
- Stop loss is riding along the MA30. corrective wave 2 didn't get much further down, so I don't expect a 2nd correction wave to go much below that, but I will try to stay a little bit flexible because 3rd waves can have heavier corrections, so I will trust indicators like sell volume to determine when to close my trade.
- There should be some energy left for at least another wave up (volume, resistance / support)
- It will face some difficulties with breaking the all-time high, so some consolidation after it has touched would seem appropriate. I already bought at 31.5, looking to take most of the profit inside the yellow box.
Stop loss:
- Stop loss is riding along the MA30. corrective wave 2 didn't get much further down, so I don't expect a 2nd correction wave to go much below that, but I will try to stay a little bit flexible because 3rd waves can have heavier corrections, so I will trust indicators like sell volume to determine when to close my trade.
Trade active:
Some major news came out, stating that Third Point is starting to build a large position on Philips. I think i will be selling around 50% of my shares on TP
Trade closed: target reached