This is an add-on to my last campbell long chart because I didn't give enough info. I am not long here. I won't go long here. Because of the macro conditions, I think there may be another buying opportunity lower. If I miss the run from here, no sweat. I'm not riskin' nothing.
Let's take a look at the Campbell Soup monthly line chart. No need to get bogged down with candle patterns. We're just looking for future momentum / direction.
In 2017, we had a break of structure. It held the low there, and over the next months, it carved out a bottom. Then we got an upthrust which has held for years, besides one break of structure, which is a point of interest for me at $~40.00.
Logically, we want to claim direction. Bullish or bearish. That's how our brains think. But the wyckoff trader sees actions happening in slow motion, acting at points of interest. If I was more aware of this chart, I would have bought at $36.00 after it held for a few months. But it's a very slow moving chart, so it's not exciting. Therefore, I didn't give a shit.
What I believe will happen is this structure will break. If that happens, a good buy-in is anywhere between $32-$38. That's where I'll go long, and my target will be $73 LONG TERM, but I will push my stop loss up as we gain profit, until the trade is fully paid for.
Let's take a look at the Campbell Soup monthly line chart. No need to get bogged down with candle patterns. We're just looking for future momentum / direction.
In 2017, we had a break of structure. It held the low there, and over the next months, it carved out a bottom. Then we got an upthrust which has held for years, besides one break of structure, which is a point of interest for me at $~40.00.
Logically, we want to claim direction. Bullish or bearish. That's how our brains think. But the wyckoff trader sees actions happening in slow motion, acting at points of interest. If I was more aware of this chart, I would have bought at $36.00 after it held for a few months. But it's a very slow moving chart, so it's not exciting. Therefore, I didn't give a shit.
What I believe will happen is this structure will break. If that happens, a good buy-in is anywhere between $32-$38. That's where I'll go long, and my target will be $73 LONG TERM, but I will push my stop loss up as we gain profit, until the trade is fully paid for.
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