Had good success with the bullish flag patterns of late, particularly on the intra-day charts which I do not post here.
This pattern has high probability of reaching the profit target should a break above Point (B) occur.
Use STOP-LIMIT order to catch the move and place stops below Point (C) when in a position.
If price fails to break Point (B) and drops below Point (C), trade setup is invalidated.
Take note there is a consolidation zone above indicated by the horizontal lines. This was the origin of a previous downward breakout so expect selling pressure in this area and trail/manage stops accordingly.
Please give this trade idea a THUMBS UP and I will keep you updated!
Disclaimer: This is only my opinion, make of it what you wish. It is not financial advice.
This pattern has high probability of reaching the profit target should a break above Point (B) occur.
Use STOP-LIMIT order to catch the move and place stops below Point (C) when in a position.
If price fails to break Point (B) and drops below Point (C), trade setup is invalidated.
Take note there is a consolidation zone above indicated by the horizontal lines. This was the origin of a previous downward breakout so expect selling pressure in this area and trail/manage stops accordingly.
Please give this trade idea a THUMBS UP and I will keep you updated!
Disclaimer: This is only my opinion, make of it what you wish. It is not financial advice.
Order cancelled:
No trade, broke Point (C)
