TomKirk
Long

Xero long

ASX:XRO   XERO LIMITED
156 views
3
-3 Week flag
-2 year+ parabolic advance indicating strong trend
-Bollinger band squeeze on the daily
-Measured move 56.32 for a solid risk reward
-Similar characteristics to the RMD trade I had last month

30 basis points planned
Happy to have a buy stop order in the market during the day
Comment: Stop buy order @ 46.90
SL @ 45.78
TP @ 56.17
Comment: Order tweaked
Buy stop @ 46.91
SL @ 45.99
TP @ 56.17
Comment: Disregard. Original order
Comment: Perhaps we will have to wait for $45 support
Comment: Risk adjusted stop brought down to low of day 45.32
Comment: Order cancelled for now.
I wouldnt be suprised if we break out tomorrow
Comment: Will go long into the closing bell if we breakout with a stop at the low of the day or the previous day
Comment: Orders in
Comment: Orders pulled for now. Unable to effectively bracket orders at this point
Comment: Have lost interest. No matter how its drawn, is a break of parabolic trend which rarely ends without a 60-80% retracement with a good slug of volume and a bearish engulfing candle

Comments

Careful
Weekly looking v close to bearish engulfing, generally looks weak
Reply
TomKirk nfury8
@nfury8, Absolutely right which is why I am a buyer at the close tomorrow only if it breaks out. If that happens (and i say if), will no longer be bearish engulfing.
Reply
TomKirk nfury8
@nfury8, If I saw a violation of the parabolic trend line, I would be running for the hills (or shorting haha)
Reply
Thankyou for sharing this. I find very helpful
Reply
TomKirk tgssbop
@tgssbop, Not a problem
Reply
pity it wasnt a $1.00 stock...…...
Reply
TomKirk miltonmoney
@miltonmoney, sub $10 is always nice
Reply
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