vlad.adrian
Long

Trina Solar - Long after a correction

NYSE:TSL   TRINA SOLAR LIMITED
175 0 3
Trina Solar bottomed at the end of 2012. Six months in 2013, and a rounded bottom pattern was visible, and a new uptrend emerged.

I find getting into an existing trend a very hard task. On TSL             , I see a double top pattern, and a rejection from its neckline, with a hammer, and a good start of the current week. The histogram stopped falling, so a long entry is safe.

My plan is to go long, with a stop under the hammer. After a close over 13.50$, I will move the stop under the current candle, at 11.60$. After a close over 15$, an important psychological level, I will move the stop loss to breakeven. At the first target I will close 50% of the position. I will be holding the rest of the position until I see a serious warning signal, with the stop left at breakeven, or below a swing low, if there will be one.
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