The falling wedge is about to break out.
The divergence in the dailies is quite clear both MACD and Histogram which Alexander Elder says is powerful.
The weeklies have a divergence in the H but not in the MACD itself.
So, it is a tradable long.
Going long at US open tonight 11 Sep 2019 with a stop below the gap at 55.60 area - to be specific atop at 55..
The 10 period ADX has broken above 25 in the dailies indicating the possible beginning of a trend.
The divergence in the dailies is quite clear both MACD and Histogram which Alexander Elder says is powerful.
The weeklies have a divergence in the H but not in the MACD itself.
So, it is a tradable long.
Going long at US open tonight 11 Sep 2019 with a stop below the gap at 55.60 area - to be specific atop at 55..
The 10 period ADX has broken above 25 in the dailies indicating the possible beginning of a trend.
Comment:
13 Sep 2019
A doji and a definitely indecisive night.
Stops remain at 55.
Looks like a nice third of a third.
Current profit target is 60.5 a shade below the previous high.
A doji and a definitely indecisive night.
Stops remain at 55.
Looks like a nice third of a third.
Current profit target is 60.5 a shade below the previous high.
Comment:
16 Sep 2019
WOOD reached a high of 60.34 and did not meet my PT of 60.50.
Long trade opened at 58.65, stop remains at 55 because it appears to me that the trade has room to run. profit taking target now raised to 64.
Trading costs not included.
WOOD reached a high of 60.34 and did not meet my PT of 60.50.
Long trade opened at 58.65, stop remains at 55 because it appears to me that the trade has room to run. profit taking target now raised to 64.
Trading costs not included.
Comment:
17 Sep. No change.
Comment:
18 Sep 2019.
No change.
No change.
Comment:
Square position at open today 20 Sep 2019.
I will be travelling till 7 Oct so no access so no way to monitor the trade.
This could be a classic case of retracing to the breakout trend line.
I will be travelling till 7 Oct so no access so no way to monitor the trade.
This could be a classic case of retracing to the breakout trend line.
Comment:
Sometimes it pays to ignore.
16 Sep 2019 stops were moved to 55 as the trade appeared to have room to run with PT of 64.
The run was super.
Out at 64.
16 Sep 2019 stops were moved to 55 as the trade appeared to have room to run with PT of 64.
The run was super.
Out at 64.
The breakout last night as as textbook as it could have been. Opened at 58.65. so, long at 58.75. closed at 59.53.
Stop raised from 55 to 58.7. Don't wish to lose money on this trade.