A lot of Upward Momentum in TIH.TO (Candian)
A lot of upward momentum. Watching for a break above this consolidation. No trade yet.
Consolidation could continue for a while so no exact stop loss level yet, but if the long trade triggers it will go below the consolidation.
Like the ATR Stop trailing stop loss exit on this one. Wait for a daily close below the ATR line, then move stop loss up to just below the low of that day.
It has been a pretty shallow pullback so far, so there is the possibility a deeper pullback could develop. If that occurs, I will be watching for another consolidation or rounded bottom pattern a little bit lower. Trend is still up even if we get a bit deeper pullback.
Consolidation could continue for a while so no exact stop loss level yet, but if the long trade triggers it will go below the consolidation.
Like the ATR Stop trailing stop loss exit on this one. Wait for a daily close below the ATR line, then move stop loss up to just below the low of that day.
It has been a pretty shallow pullback so far, so there is the possibility a deeper pullback could develop. If that occurs, I will be watching for another consolidation or rounded bottom pattern a little bit lower. Trend is still up even if we get a bit deeper pullback.
Comment:
Still waiting for entry trigger. No trade yet.
Cory Mitchell, CMT
Stock and forex trading insights at tradethatswing.com/
Stock and forex trading insights at tradethatswing.com/