-11 Week horizontal range -Would take stock to all-time high on an already amazing climb -Declining volume into potential spike
80 basis points planned but will likely be 30-40 on initial tranche
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Buy stop order @ 18.14 with a stop @ 17.78 for 30 basis points of risk
Trade active
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Filled on the open @ 18.16 for 30 basis points
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Very happy with the volume confirmation
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Price Gap with expanding volume is a good sign. Stop moved 18.04
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Stop at entry 18.16
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Price has met measured move of formation, however, this is a trend following play and my exit strategy is the 2 day away trailing stop as outlined in 'Technical analysis and Stock market profits' pg 368
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Stop moved 18.51 +1R locked in
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My stop implementation has been incorrect. Stops are suppose to go 5% below minor lows upon price reaching 2 days of new highs, not right up against minor low. My thanks to @blav007 for helping me realize my error. Stop is at entry @ 18.16
Trade closed: stop reached
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Well. Stopped out at break even. Should have closed at measured move. Trend is probably not broken but I will not tolerate a trade that was in profit dig back into my capital