Set stop too close on previous FSLR Long. After stop being picked off FSLR surged. Bought back in on surge. As price continue to trend up continuing to increase postion size - stop set deeper at $58. Will move up stop each time price breaks out to new levels - will continue to set stop just below bottom of range from previous consolidation (before breakout).
First off it is in a clear long term up trend. Secondly, it has been consolidating for weeks now, and FSLR has shown a patter of consolidation and then a break out. Place a close stop at 58 if the consolidation breaks down. But projecting an eventual pop towards the 75 range. Great reward to risk ratio.