Kraft moving to the upside of the range soon
Our algorithm has sent us an alert on Kraft.
It has been trading in a clear range which is hard to see in today’s market conditions and now has created a head and shoulders with and embedded V end pattern inside.
Both patterns have been seen thousands of times before by our algorithm and with a win rate of more than 75% are good patterns, especially when formed together.
The idea is to buy if the price breaks the blue line and find a take profits in the upper zone.
Note that we prefer a 2:1 risk reward ratio and take profits before we arrive in the crowded upper zone, but you could think in a 3:1 risk reward if you just go for the price pattern objective.
In our opinion, there could be some pull-back before we arrive to the upper zone, so we prefer to take an almost 8% profit than being stuck in this stock during weeks to earn a 12%.
We have new patterns every day so having cash available is crucial to do not miss future opportunities.
It has been trading in a clear range which is hard to see in today’s market conditions and now has created a head and shoulders with and embedded V end pattern inside.
Both patterns have been seen thousands of times before by our algorithm and with a win rate of more than 75% are good patterns, especially when formed together.
The idea is to buy if the price breaks the blue line and find a take profits in the upper zone.
Note that we prefer a 2:1 risk reward ratio and take profits before we arrive in the crowded upper zone, but you could think in a 3:1 risk reward if you just go for the price pattern objective.
In our opinion, there could be some pull-back before we arrive to the upper zone, so we prefer to take an almost 8% profit than being stuck in this stock during weeks to earn a 12%.
We have new patterns every day so having cash available is crucial to do not miss future opportunities.
İşlem kapandı: hedefe ulaştı:
The Head and Shoulders worked as expected, the resistance was broke, we saw a pullback and then take profits.
